Firm has raised more than $1.58 billion dedicated to investing in the Lower Middle Market industrial sector
CORE Industrial Partners (CORE), a manufacturing, industrial technology, and industrial services-focused private equity firm, is pleased to announce the closing of $887 million in capital commitments between its $685 million flagship fund, CORE Industrial Partners Fund III, L.P. (Fund III) and $202 million in its new offering, CORE Industrial Services Fund I, L.P. (Services Fund I) with both funds exceeding their targets. In the past five years, CORE has raised more than $1.58 billion of total limited partner commitments dedicated to investing in the industrial sector.
Fund III will continue CORE’s existing flagship strategy of acquiring manufacturing and industrial technology businesses that CORE believes can benefit from its deep investment and operating experience to accelerate growth and create long-term value for investors, business owners and management teams.
CORE’s newest fund strategy, Industrial Services Fund I, brings a more concentrated focus to the highly fragmented industrial services sector that CORE believes is experiencing strong growth due to reshoring and proliferation of advanced technologies with the adoption of Industry 4.0 applications in North America.
“We are extremely proud and humbled by the strong interest and support from both existing and new investors and are grateful for the trust they have shown in us,” said John May, Managing Partner of CORE. “The unwavering support for both fund strategies highlights our dedication to an industrial sector we believe is experiencing significant long-term tailwinds. We remain committed to taking advantage of these opportunities and working hard for our limited partners.”
Investors in the CORE funds represent a diverse group of institutions including endowments, foundations, insurance companies, public and corporate pensions, global asset managers, investment advisers and family offices across North America and Europe.
Kirkland & Ellis LLP served as legal adviser and Harris Williams Private Capital Advisory served as exclusive placement agent for the raising of both funds.
About CORE Industrial Partners
CORE Industrial Partners, with offices in Chicago, Austin, and Cleveland, is a private equity firm with more than $1.58 billion total limited partner commitments investing in North American lower middle-market manufacturing, industrial technology, and industrial services businesses. CORE’s team is comprised of highly experienced former CEOs and investment professionals with shared beliefs, deep experience, and a demonstrated track record of building market-leading industrial businesses. Through our capital, insight, and operational expertise, CORE partners with families, entrepreneurs and management teams and strives to build best-in-class companies. For more information, visit www.coreipfund.com.