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INTELLIGENCE
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SECTOR ANALYSIS
HEDGE FUNDS
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AIP closes $405m fund19/08/2008. Source: AltAssets. 
 New York-based mid-market private equity group American Industrial Partners has closed American Industrial Partners Capital Fund IV on $405m.
Commitments came from existing investors including HSBC and Partners Group and new investors such as FLAG Capital Management, Goldman Sachs, Grove Street Advisors, Investure, John Hancock Life Insurance Company and Parish Capital.
'We are grateful for the strong support of our existing investors and extremely pleased with the bellwether investors who have joined the partnership,' said Kim Marvin, a managing partner at AIP. 'We believe the current macro trends benefit AIP's investment strategy and we look forward to pursuing the most compelling opportunities for our investors.'
AIP IV has already committed approximately $50m to three acquisitions.
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