Sun Capital Makes Preferred Commitment From Existing Fund; Writedowns Across Funds of 36%
Sun Capital’s annual investor meeting last week in Boca Raton wasn’t a very sunny affair, according to attendees who spoke with peHUB. The firm discussed its writedowns, including company-specific ones, and a plan to prop up its fourth fund with money from its fifth fund. We have all the details below. Fund To Fund Sun Capital was previously reported to be raising an annex fund to its fully deployed fourth vehicle, Sun Capital Partners IV. The word "annex" is not accurate, peHUB has learned, as the firm has told investors it would take too long to go through the formal process. Instead, Sun Capital has created an amendment to fund four. The plan is to commit $150 million to fund four from its existing funds and investors. Half of the $150 million will come from its
