Chevy Chase’s Arlington Capital Partners LLC has filed documents indicating plans to raise a massive $3.5bn for what would be its sixth fund, and by far its largest yet.
The sum would equal more than double what it raised for its fifth fund, which closed three years ago.
Company executives did not respond to multiple requests for comment about their plans. That’s not unusual, as companies are limited in what they can say to the public while actively fundraising, as its plans suggest is underway.
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In a filing submitted late last month to the Securities and Exchange Commission, Arlington Capital indicated it has yet to raise any of its targeted $3.5 billion in equity for what it labeled as Arlington Capital Partners VI LP. Its prior fund amounted to $1.7 billion, and its fourth fund, which closed in 2016, was $700 million in size. In total, the private equity firm said it has managed approximately $4 billion across five funds.
The firm’s stated focus is to invest in or acquire companies within “aerospace and defense, government services and technology, health care and business services and software,” and similar industries. Ranked by deals closed in 2021, Arlington Capital Partners was the third-largest private equity investor in Greater Washington, according to Washington Business Journal research. It closed 11 deals last year, behind The Carlyle Group Inc.’s (NASDAQ: CG) 116 and Rotunda Capital Partners LLC’s 12, based on data from venture analytics firm PitchBook.
In its most recent deal, Arlington Capital Partners acquired Fall River, Massachusetts’s Millstone Medical Outsourcing in January for an undisclosed sum. Millstone Medical is a medical supply chain and logistics firm with about 560 employees.
Meanwhile, BlueHalo, an Arlington technology and engineering contractor and an Arlington Capital Partners portfolio company, made three acquisitions last year, including Annapolis Junction, Maryland’s Asymmetrik Ltd., a software development, analytics and systems integration firm. Its current portfolio also includes Reston’s Octo Consulting Group, which has made a slew of its own acquisitions, and it bought McLean-based MCR LLC just last year.
Source: Biz Journals
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