Denver based middle-market buyout firm KRG Capital Partners has closed its fourth fund on $1.96 billion (€1.3 billion).
The firm, founded in 1996, launched fundraising for its most recent vehicle in May with a target of $1.25 billion.
KRG’s previous fund raised $715 billion. Previous vehicles closed in 2001 and 1999 raised $450 million and $212 million, respectively.
Dale Meyer, a director at the firm in charge of investor relations, called the most recent effort a “regular, orderly, well executed fundraising” with a high percentage of re-ups from existing LPs.
Meyer attributed KRG’s popularity with its LPs to a 30 percent net IRR across all three funds, and a track record that includes “zero bankruptcies”. The firm has also give its LPs numerous co-investment opportunities.
KRG was co-founded by Mark King, Bruce Rogers and Charles Gwirtsman. The firm pursues a buy and build strategy in the healthcare, logistics, infrastructure, energy and construction products industries, among others.