Investcorp has closed its second North American private equity fund on $1.22bn, above its $1.1bn target and larger than its first fund, raised in 2021. Institutional investors from North America, Europe, the Middle East, and Asia committed to the vehicle, and Investcorp also invested on behalf of its long-standing investor base.\n\nThe fund focuses on middle-market services businesses in two verticals: business and professional services, and commercial services. It looks for fragmented sub-sectors with stable, non-cyclical demand and long-term growth drivers, and invests in companies with $10m to $50m of EBITDA.\n\nSteve Miller, co-head of North American private equity, said the team attracted existing and several new LPs “despite a challenging fundraising environment.”
Source: PE Insights · Summarized by HeadlinesBriefing