Mar, 2013 - Windjammer Senior Equity Fund IV is Completed with $726 Million of Limited Partner Commitments
Windjammer Capital, a private investment firm based in Waltham, Massachusetts and Newport Beach, California, is pleased to announce the final closing of Windjammer Senior Equity Fund IV with capital commitments in excess of $726 million. Fund IV’s committed capital, which exceeds the firm’s fundraising target and Fund III’s $574 million of committed capital, is provided by a diverse group of institutional investors, including U.S. state and city pension plans, global private equity fund of funds, leading corporate pension programs and European government institutions. “We appreciate the continuing strong support of our legacy investors who spoke for the majority of our Fund IV commitments and are also very pleased to introduce to our firm several new, well established institutional investors that represent important additional strategic partners going forward,” said Costa Littas, Managing Principal.
Windjammer’s investment strategy focuses on control equity investments within the middle market. Platform investments typically generate $10 to $40 million in EBITDA and operate in a broad spectrum of advanced manufacturing, specialty distribution and business service industry sectors. The firm will continue to seek businesses that are market share leaders that offer mission critical products at high value to cost for their clients. The Windjammer investment team works in partnership with operating management to optimize each platform’s value potential through customized strategies that include operational improvements, new product initiatives, penetration of new complimentary market segments, both domestically and overseas, as well as targeted add-on programs. Bob Bartholomew, Managing Principal, said, “Our disciplined strategy of picking high quality businesses and dedicating significant time and effort to enhance the operational and strategic strengths of each platform is a key source of our past success and will be the cornerstone of our strategy going forward.”
Windjammer was founded in 1990 and has managed funds now aggregating approximately $2 billion in capital commitments. With a consistent focus on the middle market, the firm has completed investments in 49 platform companies over the past 22 years. “We look forward to deploying Fund IV and partnering with a new group of unique and attractive middle market businesses and their management teams,” said Costa Littas, Managing Principal. “Windjammer’s investment objectives remain the same: identify great business platforms and work closely with management through our investment team and, where appropriate, our network of specialized consulting relations to optimize each company’s competitive position, value proposition for customers and financial performance.”
Chris Kallos and Justin Solomon of Kirkland & Ellis LLP served as legal counsel for Fund IV.