The Jordan Company LP has closed a new $3.2 billion private equity fund. The announcement comes amid the best fundraising environment in years.
The Resolute Fund III surpassed the Jordan Co.’s $3 billion target. Resolute Fund will invest in middle- market companies with enterprise values between $100 million and $2 billion in the industrial products and services, energy, chemicals, health care and financial services industries.
The New York firm was founded in 1982 by John "Jay" W. Jordan II, the 2012 recipient of the Association for Corporate Growth’s Lifetime Achievement Award, and David Zalaznick.
The Jordan Co. has more than $8 billion in capital under management. The firm is well-known for pioneering private equity investments in China. (For more, see our video with Jordan senior vice president and former ACG chairman Andrew Rice, "Committing to China.")
In January, the firm sold Haas Group Inc. to Wesco Aircraft Holdings Inc.for $550 million. In November, the Jordan Co. bought Transilwrap Co., which makes customized plastic film for packaging and index tabs. Also in November, the firm bought chemical maker Drew Marine and survival products maker ACR Electronics Inc.
The new fund will be managed by Jordan, along with Jonathan Boucher, A. Richard Caputo, Adam Max and Thomas Quinn. Mayer Brown served as legal counsel for the fund.
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Corrected May 2, 2014 at 11:15AM: 2205545413001