Waud Capital Partners, a Chicago, IL-based lower middle-market private equity firm, recently closed its fourth fund, with $1.056 billion of total capital commitments.
The capital commitments consist of $900m from limited partners plus a substantial commitment of $156 million from the General Partner and its affiliates.
Waud Capital Partners IV, which was oversubscribed, above the original target of $750m, WCP IV will continue the firm’s investment strategy of partnering with management teams to acquire or create platforms in lower middle-market services businesses with a focus on healthcare services and business and technology services.
Led by founder and managing partner Reeve Waud, partners Matt Clary and David Neighbours and principals Justin DuPere, Chris Graber and Matt London, WCP seeks to invest $50 million to $100 million of total equity, including follow-on investments, in each platform.
Since its founding in 1993, WCP has made more than 185 investments, including platform companies and follow-on opportunities.
Waud Capital raised its first fund of $115 million in 1999, WCP II of $272 million in 2005 and WCP III of $487 million in 2011.