Insight

PPM America Capital Partners raises $660m for eighth co-investment fund

This amount surpasses PPMACP's previous fund, which closed in 2018.

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  • Fund VIII will target approximately 50 co-investments and allocate between $10 million to $25 million per co-investment
  • PPMACP launched PPM’s first co-investment fund in 2000
  • Based in Chicago, PPM has $68.46 billion in assets under management as of September 30, 2023

PPM America Capital Partners, the private equity arm of PPM America, has closed its eighth co-investment fund at $660 million.

This amount surpasses PPMACP’s previous fund, which closed in 2018.

Fund VIII will target approximately 50 co-investments and allocate between $10 million to $25 million per co-investment.

“With 28 years of sourcing co-investments for our clients, PPMACP has the experience, relationships and agility necessary to access deals from high-quality fund managers and construct a well-diversified investment portfolio across industry, size and sponsor,” said Champ Raju, managing partner, head of private equity in a statement. “This closure continues our track record of increasing the size of each subsequent fund. We are incredibly grateful to our limited partners who have shown confidence in our ability to create value through manager and asset selection in these uncertain and volatile markets.”

PPM’s private equity capabilities were established in 1991 and PPMACP launched PPM’s first co-investment fund in 2000. Based in Chicago, PPM has $68.46 billion in assets under management as of September 30, 2023.