New York-based SK Capital Partners has closed its SK Capital Partners IV vehicle on $1 billion after just five months in market.
The fund is double the size of the firm’s previous vehicle which closed on $500 million in 2011.
SK Capital Partners focuses on the specialty materials, chemicals and healthcare sectors in the US.
SK Capital was unavailable for comment at press time.
Investors in the fund include endowments, foundations, insurance companies, state and corporate pension plans, fund of funds and large family offices. The firm said in a statement that a number of investors recommitted for this fund.
UBS Securities acted as a placement agent for the fund.
SK Capital was recently in the news for its high profile deal to buy BASF’s textile operations through its portfolio company Archroma, a Swiss chemicals maker. Archroma plans to build a $3 billion sales company by picking off assets from larger players in the chemicals industry. That transaction is expected to close in the first quarter of next year.