Stirling Square is expected to hold a first close on its fourth buyout fund by the end of Q1 2018, Private Equity International understands.
The London-headquartered firm is seeking €800 million to €1 billion for Stirling Square Capital Partners IV, according to sources with knowledge of the fund. The vehicle was first reported by Mergermarket.
Stirling Square declined to comment.
Stirling Square Capital Partners III held a final close on Fund III at its €600 million hard-cap in January 2016, according to its website. Existing second fund investors comprised over 60 percent of commitments in its third fund, with the remainder raised from new investor relationships.
Fund III included commitments from New York State Common Retirement Fund, Saskatchewan Municipal Employees’ Pension Plan and the James S McDonnell Foundation, according to PEI data.
The latest fundraise comes less than year after Stirling Square bolstered its investment team with the appointment of former TA Associates principal Dietrich Hauptmeier. Last year also saw Pascal Monteiro de Barros join the firm as partner in charge of investor relations from boutique placement firm MAB Partners.
Stirling Square has invested in 23 portfolio companies since its formation in 2002. The portfolio consists of 11 businesses, including UK-based National Fostering Agency, Portugal-based Omni Helicopters International and Italian leisurewear company Jeckerson.