The Private Investment Funds team advised Charlesbank Capital Partners on the closing of Charlesbank Equity Fund IX at $2.75 billion in limited partner commitments, concluding a fundraising process that launched in June. Investors in the fund include leading public and corporate pension funds, endowments, foundations, family offices, sovereign wealth vehicles and financial institutions. Charlesbank expects to deploy between $50 million and $250 million in each Fund IX portfolio investment, and will also make opportunistic credit investments. Additionally, an overage allocation program established simultaneously with commitments from Fund IX investors will allow Charlesbank to commit larger amounts per transaction if needed.
Charlesbank is a middle-market private equity firm that has invested more than $4.5 billion in more than 50 middle-market companies.
The Goodwin team was led by partner Paul Verbesey and included partners James Donohue and David Patton, Lynette Elam and Lauren Falkowitz.
For additional details on the closing, please read the press release.