May River Capital, a Chicago-based private equity investment firm, has raised its third fund, May River Capital Fund III, LP (“Fund III” or the “Fund”).  Fund III closed on its hard cap of $500 million in limited partner commitments, exceeding the Fund’s original target size.  The Fund will continue May River Capital’s focus on investing in high quality, lower middle-market industrial businesses with excellent management teams and the potential for significant growth and value enhancement.

The Fund received commitments from a well-respected group of limited partners, including endowments and foundations, insurance companies, fund-of-funds, family offices, wealth managers, and high-net-worth individuals.  In addition to commitments from its limited partners, May River Capital’s investment team, along with the firm’s operating partner network, made significant capital commitments to the Fund.

Since its founding in 2012, May River Capital has raised more than $1.2 billion in committed capital and has invested in 11 platform companies, as well as completed 17 add-on acquisitions.

May River Capital commented, “We are thankful for the strong support we have received from such a well-respected group of investors.  We look forward to continuing to partner with talented executives and high-caliber, industrial businesses throughout Fund III and beyond.”

M2O Private Fund Advisors acted as placement agent and Kirkland & Ellis LLP provided legal counsel.