Insight Equity to provide 20 pct GP commitment to Fund III

Insight Equity’s general partner commitment would be considerably larger than the 1 percent to 5 percent GP commitment seen in many private equity funds.

Vescovo disclosed the size of Insight Equity’s GP commitment while speaking on a panel at PartnerConnect West at the Ritz Carlton Hotel in Half Moon Bay on October 7. The conference is hosted by Buyouts Insider, publisher of Buyouts. “I think it’s a fair question (for limited partners) to ask” of firms that don’t commit as much, he said. “Why aren’t you more aligned?”

Insight Equity III held a first close on $309 million in December and has already acquired one portfolio company, component manufacturer Midstate Berkshire. The firm had raised at least $399 million for Fund III as of March 31, according to U.S. Securities and Exchange Commission filings.

Insight Equity’s previous fund, a $435 million 2008 vintage pool, had generated a 1.2x multiple and 7.9 percent net internal rate of return as of March 31, according to West Virginia Consolidated Retirement Board data cited by information provider Bison.

In August, Insight Equity hired Chris White as director of investor relations. White replaced Felicia Hardwick, who left the firm in June to spend more time with her children, according to a report from sister publication peHUB.

Southlake, Texas-based Insight Equity makes control investments in asset-heavy mid-market companies. The firm also has an office in New York City.