Private equity firm The Jordan Company just closed The Resolute Fund V at $5 billion, well above its hard cap of $4.5 billion.
Investors included U.S. public pensions, sovereign wealth funds, multinational corporations, insurance companies, funds of funds, endowments and foundations, and family offices, officials said.
Resolute V is slated to invest in middle-market business across The Jordan Company’s four core industry verticals — consumer and healthcare; industrials; technology, telecom and utility; and logistics and supply chain
“We are grateful for our investors’ support and continued confidence in our investment strategy as we close the largest fund in our nearly 40-year history,” said Rich Caputo, chief executive partner of New York-based The Jordan Company, which has more than $13 billion assets. “Resolute V enables us to continue executing on our proven investment approach of buying high-quality growth-oriented companies with experienced management teams.”
The final closing of Resolute V follows a busy year for the firm with the successful close of its first continuation fund led by Hamilton Lane and advised on by M2O Private Fund Advisors, The Resolute II Continuation Fund, L.P. The Jordan Company also made investments in Echo Global Logistics, Arclin, Dental365, and Spartech, among other companies.
Resolute V is already 50% allocated, having made several investments. These include distributor and logistics provider Specialty Building Products and AIT Worldwide Logistics which specializes in air and sea freight, ground distribution, warehouse management, and custom supply chain solutions.
Caputo said that after more than 136 transactions and 311 add-on acquisitions since inception, the firm’s senior leadership team has seen firsthand how well American businesses can perform with the right investment partner and operational guidance.
“COVID-19 related disruption has accelerated 10-years of digital innovation and highlighted the need for technological improvements across our industry verticals, creating an increasing number of compelling opportunities,” added Caputo. “Our value-added approach and team-oriented culture uniquely positions us for long-term success in this rapidly evolving economy.”
The entire portfolio includes 41 companies that generate approximately $19.7 billion of annual revenue. The focus remains on companies with enterprise values from $150 million to over $1.5 billion, according to The Jordan Company.