Siguler Guff & Co. closed its fourth small buyout opportunities fund at its $1.575 billion hard cap after six months of fundraising, spokesman Daniel Yunger said in an email.
Siguler Guff Small Buyout Opportunities Fund IV was oversubscribed, exceeding its $1.25 billion target. The fund was also 43% larger than the prior fund in the series, the $1.1 billion Siguler Guff Small Buyout Opportunities Fund III, which closed in 2017.
The fund will invest in small and lower-middle-market U.S. companies typically with $2 million to $15 million in annual earnings before interest, taxes, depreciation and amortization, less than $100 million in annual revenue and consistently high profit margins, the news release said.
Investors in the fund include the Vermont Pension Investment Committee, Montpelier, which runs for the $4.5 billion Vermont State Retirement Systems; and the $205 million Lubbock (Texas) Fire Pension Fund.