Ropes & Gray Advises Siguler Guff Raising $1.97B For 5th Small Buyout Fund
Ropes & Gray advised private equity firm Siguler Guff in fundraising for its Small Buyout Opportunities Fund V LP (“Fund V”) with $1.97 billion in capital commitments, the firm announced Friday. Fund V was oversubscribed after five months of fundraising, exceeding its $1.65 billion target and closing above its hard cap on $1.97 billion. The Fund's re-up rate was 95%, representing a significant vote of confidence from existing investors, and is the largest small business buyout fund in Siguler Guff's history.
Through direct investments and by partnering with specialist private equity sponsors, Fund V, as has been the case in its previous four funds, will focus on investing in a diverse set of small and lower middle market companies, typically with less than $200 million in annual revenues, less than $20 million of annual EBITDA, and consistently high profit margins. Fund V will continue to target established, often founder-led companies with niche market-leading positions where value can be created through building and growing the business. In each of its small business buyout funds, Siguler Guff seeks strong alignment of interests with the seller and management team through significant seller rollover and value-added improvements that drive superior financial performance.
The Ropes & Gray team was led by asset management partner Steven Zaorski, and included benefits partner Josh Lichtenstein, asset management partner Michael Doherty, asset management counsel Michael Jurasic, tax counsel Seth Piken and asset management associate, Melicia Morris.