Lower middle market investment manager Keystone Capital Management (Keystone), has held the first and final closing of its oversubscribed Keystone Fund III (Fund III) after just four months of fundraising at its hard cap of $630m in capital commitments.
Keystone professionals make up the largest single investor in the fund.
Keystone was founded in 1995 and invests primarily in North American businesses across five industry sectors: engineering and technical services; tech-enabled services; commercial services; industrial technology; and food and beverage. Since inception, the manager has made 170 acquisitions across 42 different industry platforms.
Kirkland & Ellis provided legal counsel on the fundraise for Fund III. The fund was raised without a placement agent.
Source: Private Equity Wire
Can’t stop reading? Read more
Main Capital targets $5bn fundraise and continuation vehicle growth amid renewed LP appetite
Main Capital targets $5bn fundraise and continuation vehicle growth amid renewed LP appetite Main...
Blackstone taps private credit market for £1.1bn Clarion dividend recap
Blackstone taps private credit market for £1.1bn Clarion dividend recap Blackstone’s Clarion...
Apollo- and Vistria-backed University of Phoenix owner jumps 19% in $1.35bn NYSE debut
Apollo- and Vistria-backed University of Phoenix owner jumps 19% in $1.35bn NYSE debut Phoenix...