SK Capital Partners, LP, a New York-based investment firm focused on the specialty materials, chemicals and pharmaceuticals sectors, closed the SKCP Catalyst Fund I, with limited partner capital commitments of $400m.
Fundraising for the fund started in July 2019, shortly after SK Capital announced the expansion of its investment team. The expansion allows the firm to devote additional resources to investments in the lower middle market in the specialty materials, chemicals and pharmaceuticals sectors.
Led by Managing Directors Mario Toukan and Jon Borell, SK Catalyst I will focus on control investments in the lower middle market utilizing the same sector-focused, operationally intensive investment strategy that the firm has executed throughout its history.
The fund will target lower middle market investments that generally require up to $50m of initial committed equity capital and will complement SK Capital Partners V, which closed earlier this year with approximately $2.1 billion of capital commitments.
The firm’s portfolio of businesses generates revenues in excess of $9.0 billion annually, employs more than 10,000 people globally and operates 86 plants in 24 countries.
SK Catalyst currently has approximately $4.6 billion of assets under management.