Firm: ACON Investments
Fund: ACON Equity Partners III LP
Target: $600 million
Amount Raised: $200 million
Such a closing suggests ACON is off to a promising start in raising capital for its third fund, for which it hopes to raise $600 million. The firm started reaching out to potential new investors for
The closing would also enable ACON to start tapping the fund for new investments.
ACON’s investors include David Bonderman, the founder of
In 2008, ACON raised $565 million—$375 million for its second fund and a $190 million sidecar vehicle to co-invest in deals larger than it typically would seek with the main fund. The buyout fund was generating a 22.37 percent IRR as of March 31, according to CalSTRS.
The firm typically invests $20 million to $150 million, often to acquire energy and energy services-related companies, Latin American companies and companies that serve the U.S. Hispanic population. Founded in 1996, ACON has offices in Washington, D.C., Los Angeles and Madrid.
ACON is led by Bernard Aronson, a founder and managing partner who formerly was an adviser to Goldman Sachs on Latin America; Ken Brotman, a founder and managing partner who was formerly a partner at another buyout shop,