Ironbridge Fund II oversubscribed in final close, raises $154 mln

Canadian private equity firm Ironbridge Equity Partners has completed the final close of its second fund, Ironbridge Equity Partners II LP, raising $154 million in total. The partnership was oversubscribed after less than 10 months of marketing, with the result that Ironbridge Fund II raised 23% more than its original target of $125 million. The firm's managing partner Alan Sellery said that more than 60% of the fund's institutional backers were international. Elm Capital acted as the placement agent. Based in Toronto, Ironbridge invests in lower middle-market businesses operating in a range of industries including manufacturing, distribution and consumer and business products and services.

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