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Vestar Capital Partners raises $804m for sixth fund, misses target

1 Jul 2013

news_dollars3_lrgPrivate equity firm Vestar Capital Partners has closed its sixth fund on $804m, which is well short of its reduced $2bn target.

Vestar Capital Partners (VCP) VI follows the firm’s fifth vehicle, which raised $3.65bn in 2005 and is currently 95 per cent invested, Vestar said.

VCP V was generating an IRR of 0.61 per cent at the end of September 2012, according to the Washington State Investment Board. The sixth fund initially targeted $3.5bn, which was then reduced to $2bn.

The new fund is nearly the same size as Vestar’s $803m third fund closed in 1997.

Vestar invests in businesses valued at £250m to $750m operating in the consumer, financial services, healthcare, digital media and diversified industries sectors.

Last year the firm exited disposable packaging maker Solo Cup Company to rival buyer Dart Container Corporation for $1bn.

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