The Vistria Group, a purpose-driven investment firm focusing on the middle market, has closed its Vistria Fund IV LP, with $2.68 billion of total capital commitments. Vistria now manages more than $6.5 billion in institutional capital across its funds and co-investment vehicles.
The fund was oversubscribed, closing at its hard cap and surpassing its target of $1.5 billion. It includes a $180 million commitment from Vistria’s Principals and Operating Partners. Consistent with its predecessor funds, the fund will seek to invest in U.S. based healthcare, education and financial services companies.
“When we founded Vistria more than eight years ago, we thought there was an opportunity to build a next generation investment firm that focused on building important businesses for the long-term,” said Martin Nesbitt, co-founder and senior partner at Vistria. “We continue to challenge ourselves to build a great firm and the closing of Fund IV shows that many people think we are on the right track.”
“Today could not have happened without the unwavering support of our limited partners. We are energized to continue to demonstrate our ability to produce outsized returns by embracing our key values and mission,” said Kip Kirkpatrick, Vistria co-founder and senior partner. “There will be no change in strategy going forward. We will continue to proactively and systematically identify new platforms and management teams that share our passion for building great companies.”
Ropes & Gray LLP acted as legal counsel.