New York-based buyout house American Securities has closed its sixth private equity fund with commitments of $3.64bn, a vehicle that trumped its $3bn target and is more than 50 per cent larger than its $2.33bn predecessor.
American Securities Partners VI will primarily invest in businesses with $500m to $2bn of revenues and $50m to $200m of EBITDA.
The firm said investments are undertaken with conservative financial structures that typically include only equity and senior debt, and aims to invest $150m to $500m of equity in each portfolio company.
“We are delighted to continue investing on behalf of many long-standing relationships,” American Securities CEO Michael Fisch said in a statement released today.
“At the same time, we are also pleased to have attracted select new investors. This partnership provides us with equity capital to continue supporting additional strong management teams.”
American Securities has invested in 39 companies to date, while equity invested in its 21 existing portfolio companies is valued at over $5bn.
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