Cyprium Partners, a private equity firm focused on making non-control investments, announced the closing of its fourth fund, at $460 million.
Investors included domestic and foreign pension funds, insurance companies, family offices and entrepreneurs who the firm has backed in previous investments.
Cyprium Investors IV makes sponsorless non-control investments of equity and/or subordinated debt. Founded in 1998 as Key Principal Partners (KPP), the firm invests $10 million to $60 million per transaction focusing on middle-market companies with $10m or more of EBITDA headquartered in the U.S. or Canada.
Since its initial close, Cyprium IV has invested $100 million in three platform companies: CV Holdings, Hobbico and Ice River Springs.
Cyprium has offices in Cleveland, New York and Chicago.