Firm: The Jordan Company
Fund: The Resolute Fund III
Target: $3 billion
Amount raised: $1.1 billion
The Jordan Company declined to comment. The firm held the first close last month and is expected to make an official filing with the U.S. Securities and Exchange Commission soon, the person said.
It’s not clear when the firm anticipates holding a final close, but it will be sometime in 2014, the person said. The firm invests in middle-market companies with enterprise values of between $100 million to $2 billion and has offices in New York, Chicago, Stamford and Shanghai, according to its website.
In August, the New Mexico Public Employees’ Retirement Association committed $45 million to The Resolute Fund III.
The firm closed its second fund on $3.6 billion in 2007. Fund II was generating an 8.6 percent internal rate of return and a 1.2x multiple as of March 31, 2013, according to information from the California Public Employees’ Retirement System. Jordan Company’s first Resolute Fund closed in 2002 with $1.5 billion in commitments, according to the firm’s website.
Prior to the first fund, Jordan Company invested on a deal-by-deal basis.
Founded in 1982 by Jay Jordan II and David Zalaznick, Jordan Company has almost fully deployed capital from its second investment vehicle. Earlier this month, the firm acquired Watchfire Technologies, which makes LED outdoor digital display products. That deal represented one of the last that will be done from Fund II, according to the person with knowledge of the firm.
Chris Witkowsky is editor of peHUB