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The Jordan Company beats target for third fund

2 May 2014

dollar_macro_170sqMid-market firm The Jordan Company has reportedly beaten the $3bn target for its third private equity fund.

Resolute Fund III has raised $3.2bn including a $200m commitment from the firm’s investment professionals, said Reuters, citing people familiar with the matter.

In February this year AltAssets reported that the fund had collected $1.8bn for a second close after holding a $1.1bn first close last October.

The new fund follows Resolute II, which was closed on $3.6bn in 2007 and was generating an IRR of 9.1 per cent and a cash multiple of 1.3 times in June 2013.

Jordan raised $1.2bn for its first fund in 2002 after investing on a deal-by-deal basis for 20 years.

It targets profitable companies with an enterprise value of $100m to over $2bn in the aerospace and defence, healthcare, insurance, metals, distribution, retail, energy and logistics sectors.

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