Saw Mill Capital LLC has raised a new investment fund, called Saw Mill Capital Partners II-A LP (Fund II), with $340 million in capital commitments. The fund has already invested in two businesses: Wolf-Gordon, a distributor of wallcovering and interior design products, and original equipment manufacturer iAutomation.

Fund II exceeded its original target of $300 million with backing from existing and new investors. The fund will be used to make buyout investments in North American businesses. Founded in 1997, Saw Mill is a middle-market private equity firm based in Briarcliff Manor, New York that targets the manufacturing, industrial and commercial service, and specialty distribution industries.

Private equity is experiencing the best fundraising climate in years - perhaps ever. PE firms with proven track records are faring especially well, raising funds in record time. In the first half of the year, 224 North America-focused funds closed, raising $133 billion, while globally there have been 412 private equity funds closed, which raised a combined $221.4 billion, surpassing the record $220.8 billion raised in 2008, according to Preqin.

Other middle-market fund raises include: Industrial Opportunity Partner’s (IOP) raising its third fund with $450 million; Platte River Equity's closing the firm’s fourth fundraise; Private Advisors’ closing its fourth co-investment program; CVC Capital Partners’ $18 billion fund to target U.S. and European investments; the Riverside Co.’s first minority investment fund in April 2017.

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Kamaron Leach

Kamaron Leach

Kamaron Leach joined SourceMedia in 2016, serving as Reporter of Mergers & Acquisitions. Kamaron writes the Finance Finesse column about investment banking and lending, and also covers the media and entertainment sector.