Industrial Opportunity Partners raises $450m

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Industrial Opportunity Partners held a final close on its $450 million hard-cap for its Industrial Opportunity Partners III. The Evanston-headquartered firm had a $400million target and began fundraising in 2017.

Its previous fund raised $275 million in 2012.

Investors that committed to Industrial Opportunity Partners III include university endowments, foundations, insurance companies, pension plans, and funds-of-funds.

The fund will target buyout opportunities in middle-market manufacturing and value-added distribution sectors in North America.

Sidley Austin LLP was the fund’s legal advisor. Industrial Opportunity Partners used Park Hill Group LLC as placement agents.