Click here for printer friendly page
American Securities closes $2.3bn fund with a 25-year investment horizon04/09/2008. Source: AltAssets. 
 New York-headquartered mid-market private equity firm American Securities has closed its fifth fund, American Securities Partners V, on above $2.3bn. The fund had an original target of $2bn.
American Securities president and CEO Michael Fisch said, 'We are delighted to continue building on our long-standing high-net-worth family and endowment relationships in ASP V. We are also pleased to have attracted select new investors, a number of whom are international investors that expand our geographic reach on behalf of our US-based portfolio companies to additional countries around the world.
'The unique 25-year investment horizon of this partnership will allow us to continue to create high long-term, risk-adjusted rates of return for our management partners and investors,' Fisch added.
American Securities now has approximately $6bn under management. Its previous fund, Fund IV, closed on $1bn on 2 December 2004.
The firm typically invests in North American companies with annual revenues ranging from $100m to $1bn.
American Securities is led by managing directors Michael G Fisch, Charles D Klein, David L Horing, Paul Rossetti, Glenn B Kaufman, Matthew F LeBaron and Marc L Saiontz.
Copyright © 2008 AltAssets
|
