Quad-C Management, a Charlottesville, Va.-based middle market private equity firm, closed and activated its latest fund.
Quad-C Partners IX, L.P., was oversubscribed and closed at $1.1 billion of limited partner commitments, exceeding its target of $800 million.
Similar to prior funds, this fund will invest in middle market business services, consumer, general industrial, healthcare, specialty distribution and transportation and logistics companies in partnership with owners and managers ranging in size from $75m to $400m. It will be invested by a team of 17 investment professionals.
Founded in 1989, Quad-C has invested over $2.5 billion of equity across more than 50 companies. Of the 13 deals in Fund VIII, eight were companies in which Quad-C was the first institutional investor, and every deal had significant rollover investments by the management teams and founders.