Windjammer Capital Investors is pleased to announce it has completed fundraising for its fifth fund, Windjammer Senior Equity Fund V, LP. Fund V closed with aggregate capital commitments of $870 million at its hard cap and exceeded Windjammer's prior fund committed capital of $726 million. With the successful closing of Fund V, Windjammer has raised in excess of $2 billion since 2006 in pursuit of its control equity investing strategy. Fund V marks an important generational milestone for the firm with Jeff Miehe and Greg Bondick joining Costa Littas as Managing Principals of the firm.
"We are extremely pleased with the response to our Fund V and grateful for the continuing strong support of our longtime investors. We also are pleased to add a number of prominent institutions to our investor base of strong partners," said Jeff Miehe. Windjammer's investors include a diverse group of private and public pension programs, global insurance companies, endowments and large family offices.
"Fund V will continue the same investment strategy employed by Windjammer in Funds III and IV by making control equity investments in market share leading, niche-oriented, middle market B2B businesses in the industrial, specialty distribution and business services sectors," said Costa Littas. Target investment opportunities typically range in size from $10 million to $50 million in EBITDA and offer mission critical products and services with high value to cost ratio for their customers. Windjammer's investment and operating professionals work in partnership with portfolio company leadership to develop strategies customized for each company's needs, goals and objectives to help drive value creation.
Since its founding, Windjammer has completed over 50 middle market transactions and supported over 100 add-on acquisitions by its portfolio companies. "Our focus in Fund V will be the same as it's always been – using a disciplined strategy to identify and invest in great business platforms and then working closely with management to enhance the strategic value of the company," said Greg Bondick. "We look forward to investing Fund V and partnering with a new group of unique and attractive businesses and their management teams." Fund V seeks to invest $50 to $100 million in capital per portfolio-company, with significant additional investment capacity through its LP relationships.
Lazard acted as placement agent for Fund V and Kirkland & Ellis provided legal counsel.
Windjammer Capital is a national private equity investment firm, based in Newport Beach, CA and Waltham, MA that invests control equity in middle‐market businesses and in partnership with management. Windjammer manages over $2 billion of committed capital with respect to its control equity investment strategy, and since its founding in 1990, has completed over 50 platform acquisitions and over 100 strategic add‐ons. The firm targets investments in companies that are leaders in attractive niche markets and share several of the following characteristics: significant and defensible market positions; differentiated products and services; strong management teams; scalable business models; identifiable growth opportunities; and consistent financial performance.