CCMP closes third fund on $3.6bn

The buyout shop has closed its third fund slightly above the $3.5 billion target

New York-based buyout firm CCMP has closed its third fund on $3.6 billion, just above the fund’s $3.5 billion target. The firm’s previous fund – CCMP Capital Investors II closed on $3.4 billion in 2006.

Like its predecessor funds, CCMP Capital Investors III will focus on middle market companies in North America and Europe in the consumer, industrial, energy and healthcare industries.

CCMP declined to comment on fundraising.

Investors in the fund include public and corporate pension funds, sovereign wealth funds, insurance companies, foundations, endowments and high net worth individuals.

CCMP has already invested in three companies from Fund III – Jamison Laboratories, a supplements provider; The Hillman Group, a fasteners distributor, and Jetro Cash & Carry, a business to business retail foodservice company. Jetro is part of a proposed merger between Sysco and US Foods, emerging as a rival to the two companies.

The firm also recently announced an investment in Eco Services, the U.S. sulfuric acid virgin production and regeneration business of Solvay S.A., which is expected to close later this year.

Over the summer, CCMP also sold Spanish cable broadband service provider Ono to Vodafone for £6 billion (€7.2 billion, $10 billion) alongside Providence Equity Partners, Quadrangle Capital Partners and Thomas H Lee Partners.