– Investcorp closed its North American Private Equity (NAPE) Fund II at $1.22 billion, exceeding its $1.1 billion target and surpassing Fund I, despite a challenging fundraising environment.
– Fund II targets middle-market companies in business & professional services and commercial services, focusing on stable demand, fragmented markets and long-term secular growth drivers.
– The fund secured commitments from institutional investors across North America, Europe, the Middle East and Asia, including longstanding Investcorp investors.
– NAPE uses institutional co-investment to provide greater investment flexibility; its Fund I LPs invested more than $1 billion in fee-free co-investment equity.
– Mohammed Alardhi, Executive Chairman of Investcorp, said the U.S. remains Investcorp’s largest market and central to its global growth strategy, highlighting the confidence of institutional investors in the firm.
– Steve Miller, Senior Managing Director and Co-Head of North American Private Equity, said the close increases NAPE’s capacity to invest in business and professional services and commercial services companies and reflects support from both existing and new LPs.
– Nicky McGrane, Senior Managing Director and Co-Head of North American Private Equity, said the current portfolio companies offer significant opportunities for value creation through accelerated M&A and that NAPE plans to expand its internal value-creation capabilities.
– Investcorp’s North American Private Equity group has 40+ years of experience, with more than 75 middle-market investments and over $25 billion in transaction value since inception.
