Sterling Investment Partners has closed its fifth institutional private equity fund at more than $1.6 billion, marking one of the firm’s most significant capital raises to date and reflecting strong investor demand for its middle market investment strategy. The fund surpassed its original $1.25 billion target and reached its hard cap within months of launch, bolstered primarily by returning limited partners and several new global institutional backers.
Based in Greenwich, Connecticut, the firm continues to focus on control-oriented equity investments in business services and distribution companies. Fund V follows Sterling’s long-standing operational approach, centered on partnering closely with entrepreneurs, founders, and management teams to scale middle market companies. The firm has developed a consistent track record over more than three decades of working with leadership teams to strengthen operations and accelerate growth.
Fund V has already completed its first platform investment in XKIG, a former portfolio company of the prior Sterling fund. The transaction was completed alongside a Sterling-managed continuation vehicle, which also recently closed and was heavily oversubscribed, reflecting continued investor appetite for exposure to the firm’s existing portfolio.
The successful close of Fund V follows a period of organizational expansion for Sterling, which has scaled its internal capabilities, investment team, and capital base to support larger and more complex opportunities. The firm emphasized that its culture, continuity, and commitment to value creation remain central to its strategy as it moves into its next phase of deployment.
Support: Eaton Partners, a Stifel Company, served as the lead placement agent for the fundraise, with Piper Sandler providing advisory support. Kirkland & Ellis acted as legal counsel to the firm.
KEY QUOTES:
“We feel our firm has never been better positioned. We are humbled by the support of our investors and are enthusiastic about the opportunities for Fund V which has already completed its first platform investment. As Sterling has grown over our more than 30-year history, we have built on our strong culture and continuity and we have scaled our capabilities and committed capital base in an effort to continue to generate value for our limited partners.”
Charles Santoro, Co-Founder and Managing Partner, James Soldano, Managing Partner, and Mike Barr, Managing Partner
“We could not be more appreciative of our investors’ continued support and confidence. The robust enthusiasm for Fund V is a testament to our dedicated team and to our strategy that continues to advance the scale and quality of our global partnerships.”
Ruth Lane, Senior Managing Director and Head of Investor Relations
