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CCMP Capital confirms $1.1bn fundraise towards Fund III target

15 Jul 2013

dollar envelope moneyJP Morgan’s former private equity unit CCMP Capital Advisors has confirmed it has gathered just over $1.1bn for its third flagship buyout fund.

The firm has collected $1.119bn towards its $3.5bn-targeting CCMP Capital Investors III vehicle according to a US securities filing.

About $920m of that came from 55 LPs through the main vehicle, with another $199m provided by 58 investors in the CCMP Capital Investors III (Employee) fund.

The firm was reported to have held a first close on $1.1bn last week.

Investors in the vehicle to date include the Canada Pension Plan Investment Board, Alberta Management Corp and Goldman Sachs, while CCMP has committed $200m itself, the report said.

In February CCMP president and chief executive Stephen Murray told the Wharton Private Equity Conference that it was close to hitting its $3.5bn target for the fund.

New York-based CCMP raised $3.4bn for its last private equity vehicle in 2006, shortly after it was spun off from JP Morgan.

The firm was looking to expand its LP base in CCMP Capital Investors III by targeting sovereign wealth funds across the globe.

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