SK Capital Partners, a NY-based private equity firm that invests across the specialty materials, ingredients and life sciences industries, closed its sixth fund, SK Capital Partners VI, at $2.95 billion.

The latest vintage of its flagship private investment strategy beat its target of $2.75 billion. The fund secured support from institutional investors, including a $100 million investment from Louisiana State Employees’ Retirement System.

The firm has increased the size of its funds over time. Fund VI’s previous iteration garnered $2.1 billion in 2019 and just concluded a funding round for SKCP Catalyst Fund II, securing $800 million.

“SK Capital has one of the largest and longest-standing teams dedicated to the sectors in which we invest,” said Barry Siadat, SK Capital’s co-founder and managing director. “Together with SKCP Catalyst Fund II, which raised $800 million of total commitments in 2023, the firm is well-capitalized and well-positioned to continue providing capital solutions to entrepreneurs, families and corporates across all transaction sizes through our unique style of transformative control investing.”

SK Capital’s portfolio of businesses generates revenues of about $14 billion annually, employs over 25,000 people globally, and operates over 200 plants in over 30 countries. The firm currently has approximately $9 billion in assets under management.