CIVC Partners Closes Fund VI, Promotes Doug Potters to Partner
Chicago-based North American middle market private equity firm CIVC Partners has closed CIVC Partners Fund VI, LP on $525 million of commitments from limited partners. The target and original hard cap was $450mn.
"We could not have asked for a better way to finish our 50th year in existence than with this successful raise of Fund VI during such challenging times," said Chris Perry, Partner. "We are thankful to our existing limited partners who supported a new commitment to Fund VI and all our new investors who valued our strategy and process for creating strong returns."
John Compall, Partner, added, "Being able to have a one and only close fundraise demonstrates a strong endorsement of our team, sourcing strategy, value creation approach and performance. We look forward to a long relationship with all of our limited partners."
With the closing of Fund VI, CIVC is also promoting Doug Potters to Partner. Potters joined CIVC in 2011 and has been heavily involved with the investments in Ground Penetrating Radar Systems, Magna Legal Services, Yellowstone Landscape, KPA, and Equipment Transport.
"Having witnessed the value Doug added while working with him on KPA and Magna Legal Services, his promotion was well earned. Doug's promotion to Partner further strengthens our investment team, which has worked together an average of almost 18 years," said Scott Schwartz, Partner. "Doug will be a key figure in the future of CIVC as he networks with business owners and management teams to create investment opportunities for Fund VI and beyond," added JD Wright, Partner.
M2O Private Fund Advisors ("M2O") served as placement agent for Fund VI, while Kirkland & Ellis LLP served as legal counsel.
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