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Wingate Partners hits road for fifth fund, refuses to reveal target

24 Jun 2013

dollar large_sqPrivate equity firm Wingate Partners is back on the fundraising trail for its fifth fund six years after closing its previous vehicle on nearly $200m, AltAssets has learned.

Wingate Affiliates V does not have a placement agent and has yet to register its first commitment, according to a filing with the US Securities and Exchange Commission.

Firm principal Jim Johnson refused to disclose the fund’s target and told AltAssets it was inappropriate to ask.

The vehicle follows Wingate’s fourth fund, which was closed at nearly $200m in 2007.

The previous fund, Wingate Partners III, had generated a return multiple of 2.91 times and an IRR of 22.36 per cent according to a report from Thomson Reuters released in August last year.

Wingate targets businesses with revenues of $50m to $250m, investing between $25m and $100m in controlling stakes.

It is focused on the manufacturing, distribution and service businesses with a “significant market share position” and invests in all sectors besides banking, insurance, real estate, media, natural resources, and high technology.

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