St. Louis-based Thompson Street Capital Partners closed its sixth fund at $1.5 billion with a focus on investing in founder-led middle market businesses.
One of the fund’s investors is Massachusetts Pension Reserves Investment Management, which placed $150 million in the fund back in June 2021.
Thompson Street Capital Partners VI is set to pursue private equity investments in the life sciences and healthcare, software and technology and business and consumer services and products sectors. The focus is on equity investments of $50 million to $250 million in companies with EBITDA between $5 million and $50 million.
Approximately 25% of the fund has already been invested.
“We are excited to continue to grow our firm, as we remain committed to our fundamental strategy of partnering with founders and management teams in our core industries of focus,” said Bob Dunn, managing partner of Thompson Street Capital Partners, which managed $4.6 billion at the end of 2021.
Kirkland & Ellis served as fund counsel for Thompson Street, while Park Hill Group acted as placement agent.
Part of the firm’s approach is to provide support and resources to help accelerate growth in the portfolio companies thereby creating value for founders, management teams and investors, Dunn added.
Also announced today was the acquisition of PlayPosit by one of the firm’s portfolio companies WeVideo. PlayPosit is a software company that offers an online interactive environment that seamlessly integrates layered learning experiences directly into video content. WeVideo is a leading cloud-based and collaborative multimedia creation platform with more than 38 million users.
Last week, Thompson Street Capital Partners has made a growth investment in Silverchair, an independent content management, product enablement and digital transformation platform for association, society and independent publishers. Terms were not disclosed.
In late December 2021, the firm raised its first continuation fund, attracting $1.2 billion.
