Former KKR exec’s Public Pension Capital collects $786m for debut fund


Mid-market private equity house Public Pension Capital has collected $786m for its debut fund.

A final close has not been confirmed, but the vehicle has no capital left to register, according to a filing with the SEC.

It attracted commitments from 15 investors, and will be managed by former KKR partners Perry Golkin and Mike Tokarz.

The investment strategy of the fund has not been revealed, but the firm will look to invest in mid-market companies operating in the business and industrial services, financial, healthcare and specialty chemicals sectors, according to its website.

Equity investments will range from $25m up to $75m in businesses with annual revenue of between $25m and $250m and EBITDA between $5m and $25m.

Back in 2016, AltAssets revealed that the $11bn-managing San Diego County Employees Retirement Association had agreed to back the firm’s evergreen fund. However, other investors are not known.

Tokarz and Golkin have worked together for a combined 70-plus years. The new firm will operate from its offices in New York and Chicago.

Last year, AltAssets reported that the firm had teamed up with FiveW Capital to buy Viteos Fund Services,a provider of back office outsourcing for hedge funds, fund of funds and private equity funds.

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