Wilton closes $240m private equity fund

Fundraising in 2001 proved difficult for Wilton Asset Management, whose private equity fund fell $60m short of its original target.

Wilton Asset Management, a joint venture between State Street Global Advisors (SSgA) and DuPont Capital Management, has closed its Wilton Private Equity Fund at $240m, $60m short of its original target.

It was hoped the fund would achieve $300m, said Scott Gregory, vice president of Wilton Asset Management. “But given the tough fundraising environment of last year, we were happy to raise this much,” he said.

The fund is aimed at international buyout, growth financing and venture capital opportunities, and to date has committed $56m to four private equity partnerships and one direct investment. The partnerships include Sun Capital, Quad-C, and Kohlberg Investors IV.

While all the current partnerships are American, the fund has a 25 per cent allocation for investing outside of North America, and will be looking at deals in Western Europe over the coming months, said Gregory.

DuPont Capital Management is a wholly owned subsidiary of EI du Pont Nemours & Company and manages around $20.8bn in assets, with more than $3bn committed to private equity market investments. SSgA, the investment management arm of State Street, manages more than $663bn worldwide.