US lower mid-market investment firm Bison Capital Asset Management has confirmed a final closing of its Bison Capital Partners IV fund on $218m.
The vehicle exceeded its initial $200m target, with limited partners including public and private pension funds, insurance companies, fund of funds and family offices. CrossBay Capital Partners and Harken Capital acted as placement agents.
Consistent with Bison Capital’s predecessor funds, Fund IV will make growth capital investments in lower middle-market companies, public or private, for expansion, acquisitions and balance sheet recapitalisations, the firm said.
In February AltAssets reported that the firm had raised over $100m towards the fund.
Bison Capital has closed four private equity funds totaling over $600m since its inception in 2001 and currently has more than $350m of capital under management.
“We are extremely pleased with the outcome of our fundraising and greatly appreciate the faith our investors have placed in Bison Capital,” said Douglas Trussler, a partner at Bison Capital. “We believe our reputation in the investment community and seasoned investment team will allow us to identify and make profitable investments.”
Bison Capital has already made investments from Fund IV in Sentinel Offender Services, Solarsilicon Recycling Services and WestStar.
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