Core Industrial Partners, a Chicago-based private equity firm, has closed its Core Industrial Partners Fund II with total commitments of $465 million. Fund II was oversubscribed with demand in excess of both the initial target of $400 million and hard cap of $450 million.
Core Industrial Partners Fund II will continue its sector focus in acquiring manufacturing, industrial technology, and industrial service businesses that it believes can benefit from CORE’s deep investment and operating experience coupled with a well-defined operating playbook. Fund II was raised entirely through virtual efforts in less than four months and includes significant participation from existing limited partners as well as a select and diversified group of new institutional investors.
“We are incredibly humbled and grateful for the overwhelming support and continued partnership from our existing investors and the enthusiasm from a select group of new limited partners in Fund II,” said John May, founder and managing partner of Core Industrial Partners. “We are excited to continue our disciplined strategy in Fund II by acquiring industrial businesses where we believe we can accelerate their growth and create long-term value for our investors, business owners and management teams.”
Kirkland & Ellis provided legal counsel to Core and Sixpoint Partners served as exclusive placement agent for the raising of Fund II.