Ropes & Gray Advises Constitution Capital Partners on the Formation of Ironsides V, Oversubscribed at $1 Billion
Ropes & Gray provided legal counsel to Constitution Capital Partners (CCP) during the formation of Ironsides V. Ironsides V and related segregated mandates announced its final close on April 28, with total commitments of $1 billion. The fundraise is CCP’s largest to date, meaningfully exceeding its target of $600 million and representing a significant increase from Ironsides IV, which closed at $755 million in December 2016.
Constitution Capital Partners is a leading alternative investment manager focused on North American private equity and private credit. As with its predecessor fund, Ironsides V will focus on investments in primary funds with $400 million to $2 billion in commitments and direct investments in companies with enterprise values between $100 million and $1 billion. To date, Ironsides V has completed 27 direct investments and 11 fund investments. Commitments to Ironsides V came from a diverse group of new and existing global investors comprised of leading public pension plans, corporates, Taft-Hartley plans, foundations, endowments, family offices and high net worth investors.
Asset management partner Peter Laybourn led the team advising Constitution Capital on Fund V, which also included asset management counsel Michael Jurasic, asset management associates Charlie Haydock, Lauren Stewart, Samantha Ryan Jackson, Ningzhou Shen, Kaitlin Mitchell, and Kayla Duffey, and tax associate Sydney Leavens.
Peter also led Ropes & Gray’s representation of Constitution Capital Partners on the formation of Ironsides Fund IV.