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The Jordan Company eyes $3.1bn Fund III close by end of month

2 Apr 2014

dollar large_sqMid-market private equity firm The Jordan Company is reportedly planning a $3.1bn final close for its third fund at the end of the month.

AltAssets revealed in February that Resolute Fund III had surged past the halfway point by registering $1.8bn for a second close with the US securities regulator.

The firm is now targeting a final close above its $3bn target before April 30 according to Dow Jones, which cited people with knowledge of the situation.

Jordan held a $1.1bn first close for the vehicle in October last year.

The new fund follows Resolute II, which raised $3.6bn in 2007 and was generating an IRR of 9.1 per cent and a cash multiple of 1.3 times in June last year according to CalPERS data.

Jordan was launched in 1982 and invested on a deal-by-deal basis before raising its first fund, which was closed on $1.5bn in 2002.

The firm invests in profitable businesses with enterprise values of $100m to more than $2bn in various sectors including aerospace and defence, healthcare, insurance, metals, distribution, retail, energy and logistics.

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