CLAIRVEST COMPLETES FINAL CLOSING OF NEW $300 MILLION PRIVATE EQUITY INVESTMENT POOL
February 22, 2007 – Clairvest today announced it has completed the final closing of Clairvest Equity Partners III Limited Partnership
(“CEP III”).
The pool’s target amount and maximum of $300 million was achieved on schedule.
Of the total, third party investors contributed $225 million while Clairvest contributed $75 million. CEP III is a successor to Clairvest Equity Partners Limited Partnership, a fund raised in 2001 which formed with Clairvest a $219 million co-investment pool. Clairvest’s capital commitment to CEP III, 25% of the total, matches Clairvest’s commitment in percentage terms to the predecessor fund.
“We are pleased that the final closing of CEP III was completed on schedule, at the previously agreed maximum size,” said Ken Rotman, co-CEO of Clairvest. “Our management team is pursuing a number of interesting and exciting investment opportunities. The first deal for CEP III which closed in August, Kubra Data Transfer Limited, shows excellent promise and we look forward to complementing the fund with similarly attractive opportunities in the near future.”