
Comvest Closes 6th PE Fund at $881M
Comvest Partners, a middle-market private equity and credit investment firm, held the final close of its sixth flagship private equity fund, Comvest Investment Partners VI, with total capital commitments of $881 million.
The firm indicated it may raise up to $1.1 billion in a filing with the U.S. Securities and Exchange Commission in 2022, although it did not define whether this figure was a target or a hard cap.
As with its predecessor funds, CIP VI pursues control investments in middle-market companies throughout North America. The fund seeks to deploy up to $150 million of equity per investment in targeted industries including consumer, healthcare services, infrastructure and field services and professional and managed services.
“Comvest has a long tenure supporting middle-market companies that seek a seasoned partner to help grow their businesses. We are excited about the continued momentum of our firm, our private equity investment approach, and our team,” noted Maneesh Chawla, a managing partner and head of private equity strategy.
In recent years, the firm has raised more capital for its credit strategy, with Comvest Credit Partners V amassing more than $1.3 billion in 2021.
West Palm Beach, FL-based Comvest manages $10.4 billion in assets, and has invested over $12.4 billion since inception in 2000.