Vicente Capital Partners has increased its debut fund to $165 million with the additions of the State of Connecticut and Credit Suisse to its investor group. The Los Angeles based firm had closed the fund on $150 million in October.
The firm has gathered commitments from a group of large US institutional investors, including the California Public Employees’ Retirement System, LA Fire and Police Pensions, Fairview Capital, New York Common Retirement Fund, New Mexico State Investment Council and the Teachers’ Retirement System of Illinois.
Vicente, led by a group of former managing directors and principals from private equity firm Kline Hawkes, makes non-control and control investments of $5 million to $15 million in growth businesses with revenues of $5 million to $25 million. Its three managing partners are Jay Ferguson, Klaus Koch and Nicholas Memmo.
The firm focuses on various industry sectors, including outsourced services, consumer services and specialty manufacturing. Vicente’s first deal was an investment of undisclosed size in MedBridge Healthcare, a provider of sleep diagnostic and respiratory therapy services.