Constitution Capital Partners Closes Oversubscribed $1 Billion Private Equity Fund

Boston and New York-based Constitution Capital Partners (CCP), a North American private equity and private credit manager, announced the final close of Ironsides V and related segregated mandates with total commitments of $1 billion, according to a Business Wire release dated April 28, 2020. The firm said the raise meaningfully exceeded its $600 million target and marks its largest fundraise to date. Ironsides IV closed at $755 million in December 2016.

Daniel Cahill, Managing Partner, attributed the result to the team's track record of investing across market cycles and sectors, and said the firm looks forward to deploying capital into partnership and co-investment opportunities across North America. John Guinee, also a Managing Partner, noted the firm has spent more than three decades building sector expertise through fundamental research and long-term relationships with fund managers and high-growth businesses.

As with its predecessor, Ironsides V will invest in primary funds with $400 million to $2 billion in commitments and in direct investments in companies with enterprise values between $100 million and $1 billion. To date the fund has completed 27 direct investments and 11 fund investments. Commitments came from a diverse group of new and existing global investors, including leading public pension plans, corporates, Taft-Hartley plans, foundations, endowments, family offices and high net worth investors. Ropes & Gray LLP served as legal counsel to CCP during the fund's formation.