CORE Industrial Partners Debut $230 Million Private Equity Fund Closes Above Initial Hard Cap
CORE Industrial Partners Debut $230 Million Private Equity Fund Closes Above Initial Hard Cap
Sixpoint Partners served as exclusive global placement agent
New York, February 20, 2019 – Sixpoint Partners, a leading global investment bank serving the middle market, announced the successful closing of CORE Industrial Partners Fund I (the “Fund”), with $230 million of total limited partner capital commitments. The Fund, which is the debut investment vehicle for CORE Industrial Partners (“CORE”), was significantly oversubscribed with demand in excess of an initial target of $200 million and initial hard cap of $225 million. The Fund received commitments from a diversified base of institutional investors including leading university endowments, insurance companies, public pensions, corporate pensions, foundations, asset managers, family offices, and fund of funds.
Based out of Chicago, CORE is a deep value-oriented, opportunistic private equity firm investing in lower middle-market manufacturing and industrial technology companies in North America. The Firm seeks to be the first institutional capital in its investments, targeting control-oriented investments in companies with $5 million to $20 million of EBITDA and $15 million to $200 million of revenue.
The Firm has the experience and skillset to invest in distressed, special situation, corporate carve-outs, and deep value businesses, and seeks to deliver superior risk-adjusted returns by leveraging the Investment Partners’ operational and investment backgrounds to apply the CORE Operating Playbook to drive operational and financial improvements in its portfolio companies.
“We are thrilled to be investing this new pool of capital on behalf of our new limited partners and remain focused on executing our differentiated strategy to generate portfolio returns,” said John May, Founder and Managing Partner at CORE. “We are thankful for the support of Sixpoint Partners in this process and look forward to a long-term partnership as we continue to build our firm in the coming years.”
“CORE is a differentiated firm led by a team of former CEOs whose operational and investment experience bring a unique value-creation strategy to the Firm’s portfolio companies,” said Larry Smith, Partner at Sixpoint Partners.
Eric Zoller, Founder and Partner at Sixpoint Partners added, “CORE’s success is a great example of Sixpoint’s continuing interest in working with outperforming first-time funds that can benefit from our comprehensive and strategic fundraising services.”
Winston & Strawn LLP provided legal counsel in connection with CORE Industrial Partners Fund I.
About CORE Industrial Partners
CORE Industrial Partners is a Chicago-based private equity firm investing in North American lower middle-market manufacturing and industrial technology businesses. CORE’s team is comprised of highly experienced former CEOs and investment professionals with shared beliefs, deep experience and a proven track record of building market leading businesses. Through our capital, insight and operational expertise, CORE partners with management teams to create unique value, grow revenues and consistently deliver lasting results. For more information, visit www.coreipfund.com.
About Sixpoint Partners
Sixpoint Partners is a leading global investment bank focused on a diversified set of services and solutions for the middle-market private equity industry. The firm’s core areas of focus include (i) primary fund placement, (ii) secondaries advisory and (iii) co-investment placement across a wide range of industries, strategies and geographies. Sixpoint Partners has a reputation for its direct, results-driven style and for delivering innovative solutions to complex problems in order to create long-term value for clients. Sixpoint is headquartered in New York with offices in Chicago, San Francisco, Austin and Hong Kong. For more information, please visit http://www.sixpointpartners.com.
Sixpoint Partners, LLC, is a registered broker/dealer, member FINRA (http://www.finra.org) and SIPC (http://www.sipc.org). Sixpoint Partners Asia Limited is licensed by the Securities and Futures Commission (http://www.sfc.hk).
For Core Industrial Partners, please contact:
John May, Founder & Managing Partner
312-566-4882
For Sixpoint Partners, please contact:
Eric Zoller, Founder & Partner
212-751-8690
ezoller@sixpointpartners.com
