CIVC closes lower mid-market strategy

Chicago-based CIVC Partners announced the closing of its CIVC Partners Fund VI with $525 million -- handily surpassing its $450 million target and original hard cap. The new fund received capital from insurance companies, fund of funds, pensions, foundations and endowments, family offices, a sovereign wealth fund and financial institutions across the U.S. and Europe. The preceding CIVC fund closed in 2017 with $400 million in commitments. "We could not have asked for a better way to finish our 50th year in existence than with this successful raise of Fund VI during such challenging times," said Chris Perry, Partner. "We are thankful to our existing limited partners who supported a new commitment to Fund VI and all our new investors who valued our strategy and process for creating strong returns." Since 1989, the CIVC team has invested over $1.8 billion in 68 platform companies and over 100 add-on acquisitions. With the closing of Fund VI, CIVC is also announcing the promotion of Doug Potters to Partner. Doug joined CIVC in 2011 and has been heavily involved with the investments in Ground Penetrating Radar Systems, Magna Legal Services, Yellowstone Landscape, KPA, and Equipment Transport. "Doug will be a key figure in the future of CIVC as he networks with business owners and management teams to create investment opportunities for Fund VI and beyond," added JD Wright, partner at CIVC. Relying on virtual meetings, M2O Private Fund Advisors served as placement agent, officials said.

CIVC closes lower mid-market strategy

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