Wind Point Partners has closed Wind Point Partners VI on $700m, well above its original $500m target. The capital will be invested into between ten and 15 companies, Wind Point said in a statement.
A number of repeat investors, including the State of Michigan Retirement System, Ontario Teachers’ Pension Plan, DaimlerChrysler Retirement System and Northwestern Mutual Life invested in Wind Point VI. New limited partners include Alaska Permanent Fund Corporation, Alaska State Pension Investment Board, the Public School Retirement System of Missouri and Standard Life Investments.
Bob Cummings, a Wind Point Partners managing director, said, ‘We are very pleased with the reception Wind Point VI received from both existing and new investors who value our unique strategy and strong realised returns.’
In connection with the launch of Wind Point VI, Wind Point has promoted principals Nathan Brown and Michael Solot to managing director. Brown has been with Wind Point since 1997 and Solot since 1999. Five vice presidents – Mark Burgett, Jeremy Busch, Michael Nelson, Paul Peterson and Alex Washington – have been promoted to principal.
Wind Point’s previous fund, Wind Point Partners V, is a 2002 vintage fund with commitments of $476m.
Wind Point has offices in Chicago, Illinois, and Southfield, Michigan, and manages $1bn in capital.
Copyright © 2005 AltAssets