Oversubscribed Fund Closes on $465 Million of Capital
Sixpoint Partners, a leading global investment bank serving the middle market, is pleased to announce the successful final and only closing of CORE Industrial Partners Fund II, L.P. (the "Fund" or "Fund II"). Sixpoint served as the exclusive placement agent for the raising of Fund II. The Fund was well oversubscribed, exceeding its initial target of $400 million and hard cap of $450 million, and more than doubling the size of its predecessor, CORE Industrial Partners Fund I, L.P.
CORE Industrial Partners ("CORE" or the "Firm") is a Chicago-based private equity firm with deep investment and operating experience. The firm focuses on investing in manufacturing as well as industrial technology and services companies in North America. CORE is comprised of highly experienced former CEOs and investment professionals who have demonstrated the ability to find and grow best-in-class companies. The Fund will seek to make control-oriented equity investments in companies with revenue of up to $200 million and EBITDA of up to $20 million.
Fund II saw significant demand from both new and existing investors, receiving capital commitments from a diverse group of high-quality, institutional investors across the US, Canada, Europe, and the Middle East. These limited partners include endowments, charitable foundations, consultants, insurance companies, public pensions, corporate pensions, asset managers, fund-of-funds, and family offices.
"We are appreciative and humbled by the immense support we received from our existing investor base, as well as the new investors who have come into Fund II," stated John May, Founder and Managing Partner at CORE. "We have partnered with a global, blue-chip group of LPs we believe will be long-term partners of the Firm and appreciate Sixpoint Partners’ important role in this process."
"The oversubscription and speed of raising CORE’s second fund, particularly in this challenged market environment, speaks to the differentiated, best-in-class platform CORE has built, and the conviction investors have in their team, strategy and execution," said Larry Smith, Partner at Sixpoint Partners. "We are proud to be partners with CORE, who have proven themselves to be a true leader in the lower middle market industrials space," added Matt Thornton, Partner at Sixpoint.
Kirkland & Ellis LLP provided legal counsel in connection with CORE Industrial Partners Fund II.
About CORE Industrial Partners
CORE Industrial Partners is a Chicago-based private equity firm investing in North American lower middle-market manufacturing and industrial technology businesses. CORE’s team is comprised of highly experienced former CEOs and investment professionals with shared beliefs, deep experience, and a proven track record of building market-leading businesses. Through our capital, insight, and operational expertise, CORE partners with management teams and strives to build best-in-class companies with lasting results. For more information, visit www.coreipfund.com.
About Sixpoint Partners
Sixpoint Partners is a leading global investment bank focused on delivering strategic advisory and fundraising solutions for the middle-market private equity industry. The firm’s core areas of focus include (i) primary fund placement and strategic advisory, (ii) secondaries advisory and (iii) co-investment placement across a wide range of industries, strategies, and geographies. Sixpoint Partners has a reputation for its direct, results-driven style and for delivering innovative solutions to complex problems in order to create long-term value for clients. Sixpoint is headquartered in New York with offices in Chicago, San Francisco, and London. Investment banking and other advisory activities are provided by Sixpoint Partners LLC ("Sixpoint") a registered broker-dealer and a member of FINRA and SIPC. For more information, please visit www.sixpointpartners.com.
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For Sixpoint Partners, please contact:
Eric Zoller, Founder & Partner