Odyssey Investment Partners LLC has closed a $2 billion private equity fund.
The fund, called Odyssey Investment Partners Fund V LP, will make control investments and management buyouts of U.S.-based middle market aerospace, equipment, rental, distribution, insurance, energy, packaging, safety products and automation companies. The firm typically invests in companies with between $20 million and $100 million in Ebitda.
Mergers & Acquisitions reported that the fund was raising capital in December.
The fund launched in September and exceeded its $1.75 billion goal. Investors include almost all of the limited partners from the firm's fourth fund, which closed at $1.5 billion in 2009, plus several new institutional investors.
New York-based Odyssey manages more than $3 billion in capital. The PE firm previously closed a $750 million fund in 2005 and a $760 million fund in 1998. The firm is currently invested in Cross Country Pipeline Supply Co. Inc., Peninsula Packaging Co. and TNT Crane & Rigging.
Several private equity firms have closed funds recently, including Pine Brook, which closed a $2.43 billion fund in February, and Post Oak Energy Capital, which closed a $600 million fund in February.