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Excellere closes fund IV on $875 hard cap, first fundraise since death of co-founder David Kessenich

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Denver-based private equity firm Excellere Partners has closed its fourth fund on its $875m hard-cap, beating its target of $750m.

The latest vehicle is the first fund the firm has raised since the death of co-founder David Kessenich. Kessenich died in January last year from complications from his multi-year battle with cancer, the firm said at the time.

The firm raised $550m for its 2017-vintage third fund, which went into a 120-day suspension period following Kessenich’s death.

Excellere, now lead by managing partners  Brad Cornell, Ryan Glaws, Matt Hicks and Patrick O’Keefe, said they picked up new LP for Fund IV, and that the successful fundraising effort was attributable to the team they had built over the last 15 years, as well as a direct reflection of their continued dedication to the firm’s core values and investment strategy.

Excellere collected $465m for Fund II in 2011.

The firm targets recapitalization partnerships with entrepreneurial companies with primary operations in North America. It had raised over $2.3bn of committed capital across its four funds.

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