Pfingsten recently announced the closing of its sixth investment fund, Pfingsten Fund VI, with total capital commitments of $435 million, surpassing its $350 million target. And Fund VI secured limited partner commitments from a diversified global investor base of family offices, endowments, foundations, consultants, asset managers, insurance companies, and high-net-worth individuals, including 25 former portfolio company executives and family-founder partners.
Pfingsten is focused on investments in entrepreneur and family-owned lower middle-market manufacturing, distribution, and business services companies with transaction values ranging from $15 to $100 million. Consistent with previous funds, Pfingsten will seek to build value through operational improvements, professional management practices, global capabilities, and profitable business growth while utilizing conservative capital structures.
Pfingsten plans to build a diversified portfolio of about 12 platform investments in Fund VI and has recently closed two platform investments.
KEY QUOTES:
“The successful fundraise reflects our consistent, disciplined, operationally focused approach to building value in lower middle market companies. For nearly 35 years, Pfingsten has been laser-focused on our goal of delivering exceptional results for our investment partners and other stakeholders.”
— Senior Managing Director Scott Finegan
“The value we bring lies in our ability to provide resources to scale businesses beyond their entrepreneurial roots, enabling them to realize growth potential and become high-performing organizations. The successful growth of our portfolio companies is only possible by building partnerships with highly effective management teams capable of driving growth organically and through strategic acquisitions.”
— Ken Hessevick, Managing Director
“We appreciate the strong support from both existing and new limited partners who believe in our investment philosophy, strategy and team. Pfingsten will continue to invest in companies where our operational resources and financial expertise drive value by building better businesses.”
— Phil Bronsteatter, Managing Director
