The Vistria Group, a Chicago, IL-based private investment firm focused on the middle market, closed Vistria Fund III, L.P., at $1.11 billion.
Capital commitments include a $100 million commitment from the firm’s Principals and Operating Partners.
Fund III will target investments in middle market companies operating in the healthcare, education and financial services industries in North America.
Consistent with predecessor funds, the new fund will seek to invest in businesses that can benefit from the firm’s deep network, operating expertise and regulatory perspectives.
Led by Kip Kirkpatrick, co-CEO and senior partner, and Martin Nesbitt, co-CEO and senior partner, the firm has closed three private equity funds and several co-investment vehicles since the closing of its first fund in 2014.
Over that same period, the firm has completed 20 portfolio company investments. Fund I closed with over $400 million in commitments and Fund II closed in 2017 with $872 million of commitments. Together with several co-investment vehicles raised since 2014, Vistria now manages more than $3.0 billion of institutional capital.