Sterling Investment Partners raised $934 million for its latest middle market private equity fund, exceeding the Westport, Conn.-based firm’ fundraising target.
Sterling Investment Partners IV is focused on distribution and business services companies. So far the firm has led the investment of $568 million of equity, including $250 million across three portfolio companies: Anser Advisory, Camp Facility Services and Kendall Vegetation Services & Xylem Tree Experts.
“SIP IV continues Sterling’s strategy of partnering with dynamic middle market distribution and business services companies with the objective of building industry-leading platforms,” said James Soldano, partner at Sterling.
Sterling Managing Partner and Co-Founder Charles Santoro welcomed a number of new investors in the fund, which also saw strong support from numerous existing investors.
Over the firm’s 30-year history the investment team has completed over 210 transactions, representing more than $25 billion in aggregate value.
Simpson Thacher & Bartlett, LLP was counsel to SIP IV. Eaton Partners acted as global placement agent.
