Insight

IOP racks up $650m for fourth fund

IOP focuses on acquiring and overseeing North American middle-market manufacturing businesses.

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  • Industrial Opportunity Partners IV’s limited partners include university endowments, insurance companies, pension plans, and funds-of-funds
  • PJT Partners LP was placement agent while Sidley Austin LLP served as legal counsel
  • IOP has about $1.5 billion of committed capital since inception

Industrial Opportunity Partners has closed its fourth fund at $650, beating its $600 million target.

Industrial Opportunity Partners IV’s limited partners include university endowments, insurance companies, pension plans, and funds-of-funds.

Founded in 2005 and based in Evanston, Illinois, IOP focuses on acquiring and overseeing North American middle-market manufacturing businesses.

“We appreciate the continued support and partnership of our investors and, as always, we will strive to be good stewards of their capital,” said Kenneth Tallering, a senior managing director of IOP, in a statement. “We are confident that the coming years will bring significant opportunity for the IOP team to build value in our companies.”

IOP’s inaugural fund closed in 2007. Since that time, across four funds, IOP has completed 33 platform investments and more than 25 add-on investments.

PJT Partners LP was placement agent while Sidley Austin LLP served as legal counsel.

IOP has about $1.5 billion of committed capital since inception.