As Expected, Madison Dearborn Closes Sixth Fund

Last year we reported that Madison Dearborn Capital Partners was stuck at "just a tick above $4 billion," in its efforts to raise a sixth fund. Erin followed up in February, saying that a final close was expected by the end of April. Now comes word, via Dow Jones, that the final close has indeed occured with $4.1 billion in capital commitments. This is well below Madison Dearborn's original $10 billion target, and not even close to its revised $7.5 billion target. More importantly, it signals that the Chicago-based firm hasn't secured any significant new commitments in nearly a year (despite having hired Credit Suisse placement vet John Knutsen to succeed retired investor relations chief David Mosher).

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