Wicks approaches target for Fund IV

The media-focused firm has collected roughly 70% of its $560m target for its fourth fund, which will invest in information, education and media companies in the lower mid-market.

Media-focused private equity firm The Wicks Group of Companies has raised about $388 million for its fourth fund, according to documents filed with the US Securities and Exchange Commission.

The New York-based firm is targeting roughly $560 million, according to the filing, which lists Credit Suisse as a sales agent that will receive compensation in connection with the fundraise. Wicks’ most recent fund, a 2004 vintage, collected $535 million on a $500 million target. Limited partners in Fund III include the University of California Retirement System, the Philadelphia Public Employees Retirement System and a number of funds of funds, such as ATP Private Equity Partners and FLAG Capital Management.

Wicks was unavailable for comment at press time.

The firm makes control investments in lower mid-market companies in the information, education and media sectors, targeting “the inefficient end of the market where there is less competition”, according to its website.

Current investments include publishing company CFM Religion Publishing Group, database management and procurement services business The Gordian Group and healthcare software company SCI Solutions.

Wicks was co-founded in 1989 by managing partner Craig Klosk and former partners Carter Bales and Edgar Berner, both of whom now serve as senior advisors to the firm.