PE Firm Sterling Investment Partners Closes Fourth Fund at $934M
Westport, Conn.-based Sterling Investment Partners closed its fourth fund – Sterling Investment Partners IV (SIP IV) -, raising $934 million. The fresh funding exceeded the firm’s $900 million target and included a significant commitment from Sterling partners.
The middle-market private equity firm invests in distribution and business services.
Since inception over three decades ago, Sterling has overseen the investment of over $2.6 billion of equity across 39 platform investments and 130 add-on acquisitions and several greenfield expansions.
To date, Sterling has led the investment of approximately $568 million of equity, including $250 million from SIP IV, into three SIP IV portfolio companies: Anser Advisory, Camp Facility Services and Kendall Vegetation Services & Xylem Tree Experts.
“SIP IV continues Sterling’s strategy of partnering with dynamic middle market distribution and business services companies with the objective of building industry-leading platforms,” said James Soldano, partner.
Simpson Thacher & Bartlett LLP was counsel to SIP IV. Eaton Partners acted as global placement agent.