PRINT THIS PAGE Clearview closes $250m fund14/04/2008. Source: AltAssets. 
US lower mid-market private equity firm Clearview Capital has closed its first institutional private equity fund, Clearview Capital Fund II, on $250m, the hard cap of the fund. The fund had an original target of $200m. The majority of the fund's capital was provided by institutional investors, and also comprises many of Clearview's original individual and high-net-worth family backers, the firm said in a statement.
Institutional investors include Credit Suisse, RCP Advisors, Hartford Investment Management, Muller Monroe Asset Management, New York Life, National City Equity Partners, Portfolio Advisors, Equity Partners and 747 Capital.
Calvin Neider, Clearview co-managing partner, said, 'With the completion of this fundraising we can now focus all of our efforts on finding, acquiring and developing great lower middle-market businesses. By putting in place committed capital and by reaching our hard cap, we have dramatically improved our ability to support all of Clearview's investing efforts.'
With its new fund, Clearview continues to invest in mid-market companies that have cash flow of between $4m and $20m.
To date, Clearview Capital Fund II has completed three platform and three add-on investments. The platform investments include welding and constructions services company Hettinger Welding and industrial cooling business Air Cooled Exchangers.
While Clearview considers investments in a variety of industries, the firm has a particular interest in manufacturing, specialised services and branded products.
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