Core Industrial Partners Closes Two $887M Funds

Core Industrial Partners Closes Two $887M Funds

Core Industrial Partners, under the counsel of Kirkland & Ellis LLP, has announced the successful closure of two funds surpassing their initial targets, securing an impressive total of $887 million in capital commitments.

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Core Industrial Partners Closes Two $887M Funds : Overachievement Unveiled

The third iteration of Core’s flagship fund, known as Core Industrial Partners III LP, reached a significant milestone by amassing $685 million in commitments. In addition, the firm’s latest endeavor, Core Industrial Services Fund I LP, concluded at $202 million, as disclosed in a statement released on Wednesday.

Diverse Investor Base Backs Core

An array of institutional investors, ranging from endowments to global asset managers, displayed robust support for both funds across North America and Europe. This diverse backing underscores the confidence in Core’s industrial sector expertise and investment strategies.

Gratitude and Dedication

John May, managing partner at Core, expressed profound gratitude, stating, “We are extremely proud and humbled by the strong interest and support from both existing and new investors.” May emphasized the firm’s commitment to leveraging long-term industrial sector opportunities for the benefit of all stakeholders.

Strategic Utilization of Funds

Core’s flagship fund will primarily target acquisitions within the manufacturing and industrial technology sectors, aiming to unlock value through strategic investment and operational enhancements. Meanwhile, the newly established Core Industrial Services Fund I will focus on capitalizing on the burgeoning industrial services sector, characterized by significant growth prospects fueled by reshoring initiatives and technological advancements.

Core Industrial Partners Closes Two $887M Funds : Steady Growth Trajectory

With offices strategically located in Chicago, Austin, and Cleveland, Core has consistently demonstrated robust growth, raising over $1.58 billion in limited partner commitments over the past five years. The firm’s portfolio showcases a diverse range of companies, including Aviation Concepts, 3DXTECH, Century Box, and GEM Manufacturing, each contributing to Core’s reputation as an industry leader.

Legal Counsel Details Awaited

While Core celebrates its recent successes, comprehensive legal counsel information from the Kirkland team advising the firm remains pending as of Wednesday.