New York, NY (April 15, 2013) -- KPS Capital Partners, LP (“KPS”), a leading private equity firm, announced today the first and final closing of KPS Special Situations Fund IV (“KPS Fund IV” or the “Fund”) was held on April 12, 2013. KPS Fund IV, with $3.5 billion in investor capital commitments, will be focused on controlling investments in corporate carve-outs, turnarounds, restructurings, bankruptcies and other special situations.
KPS Fund IV, which had a $3.0 billion target, is the third oversubscribed institutional private equity fund raised by KPS. The fundraise was completed in under three months.
Michael Psaros and David Shapiro, Co-Founders and Managing Partners of KPS, said “We are humbled by the demand from the global investment community for KPS Fund IV and we are very grateful for the support of a group of prestigious investors from North America, Europe, Asia and Australia.
“We believe that the demand for the Fund reflects our ability, over decades and across economic cycles, to add real value as a general partner by seeing value where other investors do not, buying right and making businesses better. We believe our success is the result of our operations focused investment strategy, the long term continuity of our partnership and the strength of our core investment team.”
The KPS Fund IV investment team will be managed by partners Michael Psaros, David Shapiro, Raquel Palmer and Jay Bernstein, who lead a team of experienced and talented professionals.
The investment period for KPS Fund IV will commence following the conclusion of KPS Special Situations Fund III’s investment campaign.
Paul, Weiss, Rifkind, Wharton & Garrison LLP served as legal counsel in the formation of KPS Fund IV.
About KPS Capital Partners
KPS, through its affiliated management entities, is the manager of the KPS Special Situations Funds, a family of investment funds with approximately $21.8 billion of assets under management (as of June 30, 2024). For over three decades, the Partners of KPS have worked exclusively to realize significant capital appreciation by making controlling equity investments in manufacturing and industrial companies across a diverse array of industries, including basic materials, branded consumer, healthcare and luxury products, automotive parts, capital equipment and general manufacturing. KPS creates value for its investors by working constructively with talented management teams to make businesses better, and generates investment returns by structurally improving the strategic position, competitiveness and profitability of its portfolio companies, rather than primarily relying on financial leverage. The KPS Funds’ portfolio companies generate aggregate annual revenues of approximately $21.6 billion, operate 245 manufacturing facilities in 26 countries, and have approximately 64,000 employees, directly and through joint ventures worldwide (as of June 30, 2024, pro forma for the recent acquisitions of Sport Group and Innomotics which closed on July 8, 2024 and October 1, 2024, respectively). The KPS investment strategy and portfolio companies are described in detail at www.kpsfund.com.
