The Sterling Group has successfully closed its sixth private equity fund, Sterling Group Partners VI, LP, along with its parallel fund, Fund VI, reaching a total of $3.5 billion in commitments. This surpasses the initial target of $2.75 billion and reflects strong investor interest, with the fund significantly oversubscribed. The majority of the capital comes from returning investors, while new investors from various regions, including the United States, Europe, the Middle East, and Asia, have also joined.
Franny Jones, Partner in Investor Relations at Sterling, highlighted the firm’s forty-year track record of creating value across economic cycles. She emphasized the favorable market conditions in today’s industrial middle market and the firm’s proven Seven Lever value creation strategy, which positions Fund VI for substantial opportunities.
Sterling’s investment focus remains on corporate carve-outs and family businesses within the industrial sector, consistent with its successful history. The firm emphasizes its operational approach, working closely with management teams to drive growth and enhance performance across its portfolio companies. The partner group at Sterling, boasting extensive experience, underscores the firm’s commitment to delivering value.
Evercore Private Funds Group served as the exclusive global placement agent for the fundraise, while Kirkland and Ellis, LLP provided legal counsel.
