Mid-market firm Monitor Clipper Partners has held a first close for its Fund IV on $135 million, according to a source familiar with the matter.
Monitor Clipper declined to comment.
Fund IV launched earlier this year and is targeting $600 million, according to Private Equity International’s Research and Analytics division. Monitor Clipper makes equity investments of between $10 million and $70 million in industries such as natural/organic foods, specialty retail, healthcare services, gaming and metals, according to its website. The firm’s previous vehicle, a 2009 vintage, held a final close on $500 million after initially targeting $800 million.
Monitor Clipper has invested about $2 billion in 45 companies throughout North American and Europe. The firm has completed transactions in Germany, Italy, Denmark, Spain and France.
Monitor Clipper was founded in 1983 by partners Mark Thomas, who previously worked as a consultant at Bain & Company, and William Young, former founding partner of Westbourne Management Group in Toronto. The firm has offices in Boston, Zurich and Luxembourg.