Clarion Capital Partners announced it has closed its fourth fund, Clarion Investors IV, L.P., with $677 million in total capital commitments, passing its target of $600 million and its $650 million soft cap. The Fund marks Clarion’s second oversubscribed fund in a row. The firm seeks long-term investment outperformance primarily through partnering in buyouts of lower-middle market companies.
Plus, Clarion announced the promotion of David Ragins to President of Private Equity. Marc Utay, Founder, will continue serving as Managing Partner and provide the firm’s strategic vision and leadership. Along with the private equity business, Clarion established a credit business focused on structured corporate credit in 2018 – which will continue being led by Robert Klein, President and Chief Investment Officer of Structured Credit.
Clarion raised the fund with the help of Paul, Weiss, Rifkind, Wharton, & Garrison LLP as legal counsel.
KEY QUOTES:
“We deeply appreciate the support of existing and new limited partners, all of whom are placing their trust in Clarion’s culture and best-in-class team. We’re proud to have exceeded our initial target, and our developing leadership team looks forward to delivering more great results in the coming years.”
– Clarion Managing Partner Marc Utay
“Our firm is excited to announce the promotion of David Ragins to President of Private Equity. David has spent nearly two decades at Clarion, has played a critical role in building our culture, and has led the development of our media, entertainment, and technology investing. He has built highly productive partnerships with growth companies and has been a terrific contributor to the success of our funds.”
– Clarion Partner Eric Kogan
“Clarion has experienced tremendous growth since I joined, and I am thrilled to take on this new role at such a positive inflection point in our firm’s development. I appreciate the importance of continuing to drive the key pillars of our success—collaboration, engagement, creativity, and discipline—especially as we work to build on the success of our first three funds.”
– David Ragins
