Private equity firm Vestar Capital Partners has closed its sixth fund on $804m, which is well short of its reduced $2bn target.
Vestar Capital Partners (VCP) VI follows the firm’s fifth vehicle, which raised $3.65bn in 2005 and is currently 95 per cent invested, Vestar said.
VCP V was generating an IRR of 0.61 per cent at the end of September 2012, according to the Washington State Investment Board. The sixth fund initially targeted $3.5bn, which was then reduced to $2bn.
The new fund is nearly the same size as Vestar’s $803m third fund closed in 1997.
Vestar invests in businesses valued at £250m to $750m operating in the consumer, financial services, healthcare, digital media and diversified industries sectors.
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