Roughly 80 percent of the pledges to the first close came from limited partners re-upping with the firm, and 20 percent are new LPs. The fund, which was established at the start of this year, has a minimum investment of $20 million. The final close will occur at the beginning of 2009. Fund VII is not using a placement agent; the legal advisor is Kirkland and Ellis.
LPs in past Wind Point funds include the
Wind Point acquires mid-sized businesses in the business services, consumer products, health care, industrial products and media/communications industries, making equity investments of $20 million to $70 million. The firm tends to make 25 to 30 add-on acquisitions a year across its portfolio. Wind Point typically replaces the top executives at its platform companies after acquiring them.