Insight

Clarion Capital wraps up fourth fund at $677m

Clarion Investors IV will invest in lower-middle market companies.

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  • In addition to the fundraising, Clarion has promoted David Ragins to president of private equity
  • Clarion founder Marc Utay will continue to serve as a managing partner
  • Paul, Weiss, Rifkind, Wharton, & Garrison LLP provided legal counsel to Clarion on the fund

Clarion Capital Partners has closed its fourth fund at $677 million, beating its $600 million target.

Clarion Investors IV will invest in lower-middle market companies.

In addition to the fundraising, Clarion has promoted David Ragins to president of private equity. Clarion founder Marc Utay will continue to serve as a managing partner.

“We deeply appreciate the support of existing and new limited partners, all of whom are placing their trust in Clarion’s culture and best-in-class team,” said Utay in a statement. “We’re proud to have exceeded our initial target, and our developing leadership team looks forward to delivering more great results in the coming years.”

Paul, Weiss, Rifkind, Wharton, & Garrison LLP provided legal counsel to Clarion on the fund.

Based in New York, Clarion operates two primary businesses, private equity and structured credit. The firm was founded in 1999.