Firm: Freeman Spogli & Co.
Fund: FS Equity Partners VI LP
Target: $1 billion (raised $735 million)
Placement Agent: None
The fund fell well short of its $1 billion target, but Wardlaw said the firm was pleased considering the difficulties that many firms are having raising new funds. “Given the fundraising environment, we were pleased with what we got,” he said.
There must be some relief and exhaustion on the part of Wardlaw and his colleagues too.
Freeman Spogli originally set out to raise
Scores of buyout shops have had trouble raising capital since the financial collapse of 2008, as pensions, endowments and other limited partners reassessed their commitments to the asset class. Still, some funds have found a way to raise funds relatively easily. Boston-based
Freeman Spogli raised $1 billion for its previous fund in 2004. As of Sept. 30, 2010, that fund has generated a 1.70x investment multiple and a 15.5 percent net internal rate of return for the
Freeman Spogli targets deals in the retail, direct marketing, distribution and consumer products sectors. The firm has invested more than $2.8 billion in 45 companies since its founding in 1983, according to its Web site.
FS Equity Partners VI LP attracted pledges from the