DuPont Capital targets $100m fund of funds

The private markets group of US corporation DuPont has raised about $63m for investments in strategies including private equity, venture capital and debt.

DuPont Capital Management has collected about $63 million for its third fund of funds, which has a $100 million target, according to documents filed with the US Securities and Exchange Commission.

The private markets affiliate of the DuPont corporation commits primarily to buyout funds but also invests in special situations, venture capital, and mezzanine debt. The team also makes co-investments and invests in secondaries. As of 9 April, DCM Private Equity Fund III had received commitments from 10 investors, according to SEC documents.

DuPont Capital Management’s previous fund of funds raised $200 million in 2006. Its first fund of funds collected $242 million in 2001 and was raised as a joint venture with State Street Global Advisors.

DuPont Capital Management advises the pension assets of DuPont Group, and began offering its investment services to institutional investors in 1999. Its private equity portfolio was valued at $3.8 billion as of 30 September, 2011.

DuPont Capital Management has previously backed turnaround investor Sun Capital Partners, Court Square Ventures and lender Fifth Street Capital. The team was unavailable for comment at press time.

DuPont Capital Management’s nine-person private equity group is led by former vice president of First Westinghouse Capital Corporation Carmen Gigliotti. The team has committed more than $3 billion to roughly 200 private equity partnerships since 1989.