Constitution Capital Partners, a Boston-based small and mid-cap buyout firm, has announced the final close of its Ironsides III Private Equity Partnership/Co-Investment Funds with $823 million of commitments, according to a statement.
The funds received commitments from more than 55 investors, including returning and new investors.
Fund III has already made three fund investments and seven direct co-investments. It will focus on investing in primary funds with between $200 million to $1.5 billion of commitments and direct co-investments with an enterprise value of $100 million to $1 billion.
Constitution currently manages $1.4 billion in assets and has committed $2.9 billion in capital, according to PEI's Research & Analytics division. It has invested in 24 partnerships and 26 direct co-investments.
Its limited partners include institutional investors, family offices and high net-worth investors in the US, UK, Europe, South America and Asia. It manages segregated accounts for the Universities Superannuation Scheme, a UK pension scheme with £38.85 billion in assets under management, along with other institutions.
Ropes and Gray LLP was the legal adviser to Constitution for the fund.