Firm: Fort Washington Capital Partners
Fund: Fort Washington Private Equity Investors VI LP
Target: $250 million
Amount Raised: $170 million
Legal Adviser: Thompson Hine
Having gathered about $170 million in a very tough fundraising market, the fund-of-funds manager is particularly interested in vehicles that can take advantage of distress in the market, such as turnarounds, restructurings and secondaries, according to Christopher Baucom, managing director, private equity, for Fort Washington.
The firm had originally targeted $250 million for
Fort Washington Capital commits to funds of all sizes, going as small as $200 million and as high as $6 billion, but it tends to favor smaller vehicles. The firm usually commits $5 million to $10 million to each of the roughly 25 vehicles housed in its funds of funds. Fund VI will likely invest between 20 percent to 30 percent of its capital in funds with an international focus that are managed by either U.S.-based and non-U.S.-based firms.
The vehicle is making pledges across the 2008-2010 vintage years and has committed to about 18 firms so far, including
Fort Washington Capital has also allocated “a material amount of capital” to take advantage of secondaries, said Baucom.