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The Sterling Group has successfully raised $3.5 billion in their sixth private equity fund

The Sterling Group has successfully raised $3.5 billion in their sixth private equity fund

Sterling Group has successfully closed its sixth private equity fund, Sterling Group Partners VI, LP, along with its parallel fund, Fund VI, bringing the total to $3.5 billion. This surpasses the initial target of $2.75 billion and reflects strong investor interest, with the fund significantly oversubscribed. The majority of capital comes from returning investors, while new investors from various regions including the US, Europe, the Middle East and Asia have also joined.

Fernie Jones, partner in investor relations at Sterling, highlighted the firm's forty-year track record of creating value across economic cycles. He emphasized the favorable market conditions in today's industrial middle market and the firm's proven seven-leverage value creation strategy, which provides substantial opportunities for Fund VI.

Sterling's investment focus is on corporate carve-outs and family businesses within the industrial sector, consistent with its successful history. The firm emphasizes its operational approach, working closely with management teams to drive growth and efficiency across its portfolio companies. Sterling's partner group, boasting extensive experience, underscores the firm's commitment to delivering value.

Evercore Private Funds Group acted as exclusive global placement agent for the fundraising, while Kirkland & Ellis, LLP provided legal counsel.

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