Quad-C Management has raised a $1.1 billion private equity fund, called Quad-C Partners IX L.P. Fundraising for the fund, which surpassed its target by approximately $300 million, began in July 2016.
Quad-C Partners IX will invest in well-established, middle-market businesses in a variety of sectors including: business services, consumer, general industrial, healthcare, specialty distribution, transportation and logistics. The firm’s previous fund, Quad-C Partners VIII L.P., garnered nearly $700 million in capital commitments. In 2016 alone, Quad-C made numerous deals including: the purchase of carpet manufacturer Stanton Carpet Corp. from Norwest Equity Partners; the completed acquisition of Rainbow Early Education Holding LLC from Spire Capital Partners; and the backing of Inmark Packaging.
Quad-C, based in Charlottesville, Virginia, backs companies generating $75 million to $400 million in revenue. The middle-market private equity firm has invested more than $3.9 billion in capital across all funds since its start in 1989.
Private equity firms have been actively raising funds recently. Recent capital raises include: The Carlyle Group’s (Nasdaq: CG) fourth distressed fund; Vector Capital’s fifth private equity fund; Monroe Capital LLC’s $800 million credit fund; and Chicago-based NXT Capital LLC’s fourth debt fund at $900 million.