SK Capital Partners announced the close of SK Capital Partners IV, L.P. with total limited partner commitments at its hard cap of $1 billion. The fundraising process was completed in five months with a single closing. Fund IV’s limited partners include endowments, foundations, insurance companies, state and corporate pension plans, fund of funds and large family offices.
SK Capital is comprised of an integrated, multi-disciplinary team that utilizes its industry, operating and investment experience to actively engage with management teams to transform businesses into higher performing companies. SK Capital’s entire team is committed to Fund IV, and the firm will continue to be led by Managing Directors Barry Siadat, Jamshid Keynejad, Jack Norris, Aaron Davenport and James Marden. Fund IV will pursue the same investment strategy successfully executed in its predecessor fund, a $500 million fund closed in August 2011. SK Capital targets niche market leaders with unrealized potential, with a particular focus on corporate carve-outs and entrepreneurial transitions.
“With enthusiastic support from our existing Fund III investors and strong interest from a number of new limited partners, demand exceeded both our original target as well as our hard cap,” said Managing Director James Marden. “Our combination of deep industry and operating experience in our sectors of focus, differentiated deal flow, and proven ability to drive improvement in portfolio companies resonated with investors as they seek outsized returns in a competitive and volatile marketplace.” He added, “Consistent with prior funds, Fund IV will have a significant commitment from the general partner, further aligning our interests with those of our limited partners.”
Barry Siadat, Managing Director, remarked, “With a portfolio of companies that generate over $7 billion of annual revenues, SK Capital has established itself as a significant player in the specialty materials, chemicals and healthcare sectors. We have a strong track record of providing creative solutions in corporate carve-outs, creating value both for the sellers of non-core assets as well as in the businesses as they become independent entities.” He added, “We are very appreciative of the confidence shown in us by both our existing investors and the many new, high quality investors that have joined us in Fund IV, and are working hard to reward that faith.”
Kirkland & Ellis LLP provided legal counsel to SK Capital. UBS Securities assisted SK Capital in the fundraising process.
SK Capital is a private investment firm with a disciplined focus on the specialty materials, chemicals and healthcare sectors.