Wind Point Partners bags another Fund IX commitment as it eyes $1.2bn goal


Wind Point Partners has picked up another major LP commitment for its ninth flagship fundraise, which it out eyeing up to $1.2bn.

The firm has received a $60m pledge from the Texas Employees Retirement System according to a transaction report from the $28.5bn-managing investor.

TERS’ commitment comes three months after the Minnesota State Investment Board revealed a $100m commitment towards Wind Point Partners IX.

The new vehicle marks a quick return to fundraising for Chicago-based Wind Point, which reached a $985m hard cap close for Fund VIII just two years ago.

That fundraise was the firm’s first in eight years

Wind Point is currently investing out of Wind Point Partners VIII, which it closed on its $985m hard cap in 2017.

That marked the firm’s first flagship fund launch since 2009, when it began raising Fund VII. It ultimately gathered $915m for that vehicle.

Wind Point targets mid-market companies in consumer products, industrial products, and business services markets.

Successful recent deals from the firm include agreeing the sale of pork rind producer Evans Food Group to fellow private equity house Highlander Partners in August.

That came three years after Wind Point picked up the business through a management buyout, which also saw industry veteran José Luis Prado join as CEO.

During that time Evans’ revenue more than doubled and margins increased through organic growth, two complementary acquisitions and operational initiatives.

Copyright © 2019 AltAssets

Get the latest PE News & Research delivered to your inbox every morning