Vistria Group Closes Fifth PE Fund with $3 Billion

The Vistria Group, a middle market private investment firm in Chicago that seeks to deliver both superior financial returns and meaningful societal impact, has completed the final closing of Vistria Fund V, its largest private equity fund to date with $3 billion of total capital commitments.

Vistria, was founded by Kip Kirkpatrick and Marty Nesbitt, a close ally of the former US President Barack Obama and treasurer for both of his presidential campaigns, now manages almost $16 billion across its funds and co-investment vehicles, more than doubling its assets under management (AUM) in a little over three years.

Consistent with Vistria’s original strategy and with predecessor funds, Fund V will seek to invest in the US-based healthcare, knowledge & learning solutions and financial services companies that benefit from the firm’s deep network, operating expertise and trusted partnerships.

Kip Kirkpatrick, Co-CEO and Senior Partner at The Vistria Group, said that the support from their existing Limited Partners (LPs) and interest the Group has received from new LPs from around the world for Fund V underscored the strong confidence in the company’s investment philosophy.

“The company is focusing on industries that help our society become healthy, wealthy, and wise. Our success is a testament to our team’s differentiated ability to look deeper across each of our targeted industries from three dimensions: operational, investment and policy perspectives. Our ability to see investment opportunities in these three dimensions remains a core reason why management teams continue to partner with us,” he added.

Martin Nesbitt, Co-CEO and Senior Partner, said that for the past decade, their mission to drive outsized returns while also driving meaningful societal impact has set the Group apart.

Vistria’s predecessor fund, Vistria Fund IV, LP (Fund IV), closed at $2.68 billion in 2021, more than twice the size of the $1.1 billion Vistria Fund III, LP. Since closing Fund IV, Vistria has added credit and real estate strategies consistent with its original mission.

Many Portfolios

Serving as one of the middle market’s fastest growing private equity firms, Vistria holds investments in 39 portfolio companies and employs over 100 team members throughout multiple offices across the US.

The Vistria Group is building a new kind of private investment firm that seeks to deliver both financial returns and societal impact. It looks deeper by working as a true partner, drawing on its deep sector knowledge, operational expertise, unique network, diverse team, and impact orientation to achieve transformational growth.

Meanwhile, Bloomberg reported that there have been a number of capital raises by Chicago private equity firms over the past year.

Shore Capital Partners, led by billionaire Justin Ishbia, closed on $1.9 billion for three new funds in October while Pritzker Private Capital, owned by Illinois Governor JB Pritzker and his brother Tony, was last year in the process of raising $3 billion for its third fund, the report said.