By David G. Barry
The
California Public Employees’ Retirement System (CalPERS), the California State
Teachers’ Retirement System (CalSTRS), the Oregon Public Employees Retirement
System (PERS) and ILLP A/S are among the investors who helped push Arsenal
Capital Partners above its targets for two new funds.
The New York-based private equity firm secured a total of $5.4 billion in
capital commitments. Its sixth fund closed at $4.3 billion, besting its $3
billion target and its $2.4 billion predecessor fund. Meanwhile, Arsenal’s
inaugural growth fund closed at $1.1 billion, surpassing its $750 million
target.
Other publicly disclosed investors in the fund include the University of
California’s Office of the Chief Investment Officer (UC Investments) and the
Minnesota State Investment Board.
Arsenal has raised more than $10 billion and specializes in investments in
industrial growth and healthcare companies. It has 85 professionals and 55
senior advisors and has completed more than 250 platform and add-on
acquisitions.
In a statement, Arsenal Managing Partner Terry Mullen said the firm “achieved a
gratifying high re-up rate from our existing institutional investors.” He said
that, on average, it increased its commitments by 59% from the prior fund.
Another Arsenal managing partner, Jeff Kovach, said the firm and its limited
partners “see exciting opportunities to invest in technology- and
innovation-rich companies in the industrial and healthcare sectors.”
