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Hennessy & Simmons LLC (CHS) today announced the closing of
CHS Private Equity V LP (CHS Fund V), a $1.3 billion fund
and the firm's fifth private equity fund. CHS currently manages
$2.5 billion of capital. CHS Fund V is $300 million larger
than the firm's previous fund, a $1.0 billion private equity
fund closed in 1999.
"Fund
V will allow CHS to build on over fifteen years of successful
middle market, private equity investing," said CHS Partner
Brian Simmons. "Our strong track record and close relationships
with investors in the private equity market allowed CHS to
complete fund raising in approximately six months. Through
changing economic and market conditions, we adhered to our
strategy, exercised discipline and delivered attractive returns
across all four previous funds. We believe that our investment
process and unique middle market franchise position CHS to
generate attractive investment results for Fund V."
CHS,
founded in 1988, is a leading Chicago-based private equity
fund specializing in private equity investments and recapitalizations
of middle market companies in partnership with company management.
Since 1988, CHS has invested in 56 platform companies and
completed 130 add-on acquisitions. CHS' current portfolio
consists of 18 operating companies with combined annual revenues
of more than $4.6 billion.
Through
CHS Fund V, the private equity firm will continue to make
control equity investments in companies valued between $100
million and $500 million in the areas of CHS' expertise including
distribution, industrial products, consumer goods and business
services. CHS will manage portfolio companies aggressively
for long-term capital appreciation and will support platform
companies with management, operational and financial expertise.
CHS' partners have a minimum of ten years of experience at
the firm, bringing unique continuity to the investment activities
of the organization. |