The Vistria Group, a middle-market investment firm, has closed its fourth fund at $2.68 billion, beating its $1.5 billion target. Vistria Fund IV will invest in U.S. based healthcare, education and financial services companies. Ropes & Gray LLP acted as legal counsel on the fundraising.
CHICAGO, June 30, 2021 /PRNewswire/ — The Vistria Group, a purpose-driven investment firm focusing on the middle market, today announced the final closing of Vistria Fund IV, L.P., with $2.68 billion of total capital commitments. Vistria now manages more than $6.5 billion in institutional capital across its funds and co-investment vehicles.
Fund IV was substantially oversubscribed, closing at its hard cap and surpassing its target of $1.5 billion. It includes a $180 million commitment from Vistria’s Principals and Operating Partners. Consistent with its predecessor funds, Fund IV will seek to invest in U.S. based healthcare, education and financial services companies that can benefit from the firm’s deep network, operating expertise, and policy perspectives.
“When we founded Vistria more than eight years ago, we thought there was an opportunity to build a next generation investment firm that focused on building important businesses for the long-term. Today is confirmation that our instincts were correct,” said Martin Nesbitt, Co-Founder and Senior Partner at Vistria. “We continue to challenge ourselves to build a great firm and the closing of Fund IV shows that many people think we are on the right track.”
The launch of Fund IV extends a remarkable period of growth and transformation at Vistria. Over the last 12 months, the firm has exited several investments while investing in seven new platforms and adding ten new members to the Vistria team.
“Today could not have happened without the unwavering support of our limited partners. We are energized to continue to demonstrate our ability to produce outsized returns by embracing our key values and mission,” said Kip Kirkpatrick, Vistria Co-Founder and Senior Partner. “There will be no change in strategy going forward. We will continue to proactively and systematically identify new platforms and management teams that share our passion for building great companies.”
Since closing its first fund in 2014, Vistria has attracted a new generation of investment professionals who have embraced the responsibility to do more than just generate wealth. Its focus on aligning purpose with profit, addressing societal needs and creating value for all stakeholders continues to be at the core of everything it does.
Ropes & Gray LLP acted as legal counsel.
About The Vistria Group
The Vistria Group is a Chicago-based next generation private investment firm that operates at the intersection of purpose and profit. We partner with middle-market businesses in Healthcare, Education and Financial Services that are passionate about growth and committed to the community. Our decision to invest in these areas is driven by our belief in companies producing scalable social value. Vistria’s team is comprised of highly experienced operating partners and investment professionals with proven track records of working with management teams in building innovative, market-leading companies. For more information, please visit www.vistria.com.