The private equity firm’s latest fund has closed with $2.1bn from backers including endowments for specialty materials, chemicals and pharmaceuticals investments.
SK Capital Partners, a US-based private equity firm focused on speciality materials, chemicals and pharmaceuticals, has secured commitments of $2.1bn from investors including unnamed endowments for the final close of its fifth fund.
None of SK Capital Partners Fund V’s limited partners have been named, however the consortium includes public pension funds, insurers, sovereign wealth funds, family offices and fund-of-funds.
The vehicle includes an overage side fund allotted to offer faster investments and greater certainty to potential investees seeking larger cheque sizes.
SK Capital did not provide details on fund strategy, though it made its first investment from the vehicle as part of its acquisition of chemicals manufacturer SI Group in October 2018.
Generally, the firm targets corporate carve-outs and entrepreneurial transitions in speciality materials, chemicals and healthcare businesses with untapped growth potential in niche areas of the market.
SK Capital, which raised $500m for its first fund in 2011, currently has more than $4bn in assets under management. The firm’s last vehicle closed at $1bn in 2014, again with the support of undisclosed endowments, foundations, insurance firms and pension plans among others.
Barry Siadat, co-founder and managing director of SK Capital Partners, said: “We are pleased by the tremendous demand for Fund V.
“Both the quality and diversity of our limited partners is indicative of their broad support for SK Capital’s disciplined strategy and strong team that incorporates both deep industry experience and diverse operating skill sets to deliver our targeted returns.”
