Vance Street Capital, an LA-based private equity firm focused on investments in North America-based companies that provide highly engineered solutions to their customers, announced the first and final close of Vance Street Capital IV. Fund IV began marketing in January 2024 with a target of $550 million. It was significantly oversubscribed and closed in April 2024 at its hard cap of $775 million.
Including Fund IV, Vance Street raised over $2 billion in total capital to invest in the lower middle market.
Fund IV will continue Vance Street’s strategy of partnering with founder-owned companies, multi-generational family businesses, and corporate carve-outs in critical B2B manufacturing businesses in the medical, life science, industrial technology, and aerospace and defense sectors.
Vance Street Capital also actively manages a portfolio across Vance Street Capital II, LP and Vance Street Capital III, LP in addition to VSC Extended Value funds EV1 LP, EV2 LP and EV3 LP. And Kirkland & Ellis LLP served as legal advisor and M2O Private Fund Advisors served as the exclusive placement agent.
KEY QUOTES:
“We sincerely appreciate the strong show of support from both our existing and new limited partners to enable us to achieve the speed and success of our Fund IV fundraise. Our sector focus, expertise in manufacturing and engineering, deep bench of operational professionals and commitment to the lower middle market resonated with investors. We are proud of the team we have built at Vance Street and our track record creating highly sought after strategic assets.”
– Brian Martin, Managing Partner at Vance Street
“We pride ourselves in partnering with founders and management teams who have built established, market leading companies to support their continued growth through investments in people, processes and technologies. Our expansive network of operators and executives help accelerate the implementation of our value creation initiatives, and we look forward to continuing our partnership with them for years to come.”
– Mike Janish, Managing Partner at Vance Street
