Equity and debt investor Comvest Partners has closed its sixth flagship private equity fund, Comvest Investment Partners VI LP, with total capital commitments of $881 million.
Fund VI received commitments from a range of limited partners including foundations, insurance companies, pension funds, asset managers, consultants and family offices.
Like its earlier funds, Fund VI will invest from $50 million to $150 million of equity in companies that have revenues from $50 million to $1 billion, EBITDA greater than $7 million, and enterprise valuations of $75 million to $400 million. Sectors of interest include business services, consumer and retail, healthcare services, industrials, and transportation and logistics.
“We appreciate the strong reception Fund VI received from new and existing investors,” said Michael Falk, Comvest’s founder and chief executive officer. “We believe our successful fundraise reflects Comvest’s deep experience in the middle market, our nearly 25-year history of delivering results for our investors, and the strength of our private equity strategy. We are grateful for the continued confidence our investors have placed in us and remain committed to meeting that trust.”
“This fundraising milestone is a testament to the experienced and proven investment team we have built at Comvest,” said Maneesh Chawla, a managing partner of Comvest and head of the firm’s private equity strategy. “Comvest has a long tenure supporting middle-market companies that seek a seasoned partner to help grow their businesses. We are excited about the continued momentum of our firm, our private equity investment approach, and our team.”
Comvest was founded in 2000 and today has $10.4 billion in assets under management. The firm is headquartered in West Palm Beach and has offices in Chicago and New York City.
Kirkland & Ellis provided legal services to Comvest on this fundraise.
© 2024 Private Equity Professional | March 22, 2024
