Quad-C racks up $1.7bn for tenth fund

Fund X will invest in middle-market companies that have enterprise valuations between $100 million and $500 million.

Quad-C Management has closed its tenth fund at about $1.7 billion. Fund X will invest in middle-market companies that have enterprise valuations between $100 million and $500 million. Ropes & Gray LLP advised Quad-C on the fundraising. No placement agent was used.


CHARLOTTESVILLE, Va., May 25, 2022 /PRNewswire/ — Quad-C Management (“Quad-C”), a leading middle market private equity fund, announced the final close of its latest fund, Quad-C Partners X, L.P. Fund X wrapped up with total commitments of approximately $1.7 billion, compared to $1.1 billion for Fund IX.

Quad-C is grateful to have had strong support from its existing investor base and welcomes several high-quality new domestic and international limited partners to Fund X. As has been a tradition since its early days, Quad-C is fortunate to have had over $115 million of Fund X’s capital committed by individual investors, with nearly $70 million coming from owners and managers of current and former Quad-C portfolio companies.

Fund X will be invested by a growing team of 23 investment professionals, supported by an exceptional administrative and accounting staff.

Similar to Quad-C’s prior funds, Fund X will invest in leading middle market companies in partnership with owners and managers with enterprise values between $100 million and $500 million. As evidence of our continued focus on founder owner recaps in the middle market, 16 of the 27 platform investments in Funds VIII and IX were companies in which Quad-C was the first institutional investor. All deals had significant rollover investments by the management teams and founders and fell into Quad-C’s targeted industry verticals. Fund X is currently 20.6% invested.

Ropes & Gray LLP advised Quad-C on the fundraise. The firm did not work with a placement agent.

Founded in 1989 and headquartered in Charlottesville, Virginia, Quad-C is a middle market private equity firm focused on investing in well-established business and consumer services, food and beverage and consumer products, healthcare, industrials, specialty distribution and transportation/logistics companies. Over its long history, Quad-C has invested approximately $4 billion in more than 75 companies. The Quad-C team is committed to partnering with entrepreneurs and management teams to accelerate growth and create long-term value. www.quadcmanagement.com