TREND WATCH // Focus on Fundraising
The Highlights: Middle-market funds raised in 2021 Fund
Final close Final close Vintage Strategy size (USD mn) date
Core sector Headquarters
Madison Dearborn Partners
Madison Dearborn Capital Partners VIII
5,000.00
6/10/21
2021
Buyout
Diversified
Chicago, IL
Pritzker Private Capital
PPC III
2,700.00
7/28/21
2020
Buyout
Diversified
Chicago, IL
Wind Point Partners Wind Point Partners IX 1,500.00
2/16/21
2019
Buyout
Diversified
Chicago, IL
Frazier Healthcare Partners
Frazier Healthcare 1,400.00 Growth Buyout Fund X
5/27/21
2020
Buyout
Healthcare
Seattle, WA
Crosspoint Capital Partners
Crosspoint Capital Fund I
1,300.00
4/13/21
2020
Growth
Information Technology
Boston, MA
BBH Capital Partners
BBH Capital Partners VI
1,215.00
5/27/21
2020
Buyout
Diversified
New York, NY
Shamrock Capital Advisors
Shamrock Capital Growth Fund V
1,000.00
6/9/21
2021
Buyout/ Growth
Telecoms & Media
Los Angeles, CA
Fund Manager
Source: Preqin Pro, public announcements, media reports
Anthony Pritzker heads up the investment firm. Also in Chicago, Wind Point Partners, which got its start in 1984, closed its latest fund with $1.5 billion in February. The firm touts its executive network of former public and private company CEOs, who provide insights to portfolio companies.
Investment Targets
Even though these fund managers are raising ever-larger funds and can do bigger deals, many are still focusing on the middle market, with Wind Point targeting $100 million-$500 million enterprise value companies. Pritzker Private Capital has a
wide band around its target size that includes the middle market. The firm’s sweet spot is in the $200 million to $1.5 billion EV range, says Michael Nelson, head of investing. Part of what draws investors to Pritzker is the firm’s 20-year history in building businesses, Nelson says. “That’s coupled with 45 investment and operating professionals,” he adds, setting Pritzker apart from smaller family investment firms. Pritzker typically targets manufacturing, food, packaging, healthcare and specialty materials companies. “We see opportunities that many others don’t and most of our
Most of our deals are done outside of the auction process. Michael Nelson Head of Investing, Pritzker Private Capital
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