Callisto Capital IV holds $188M initial close
Callisto Capital has held an initial close for its fourth fund, Callisto Capital IV, securing $188 million from Canadian investors.
Investors include both returning institutional investors and individual investors, most of whom have been partners with Callisto for many years, including CEOs of both current and past portfolio companies.
“Raising this capital is a validation of our strategy,” said Joe Shlesinger, Callisto Managing Director. “Our focus for the Fund is much the same as it was in our previous Funds, which is partnering with leading management teams to grow value in their businesses.”
“Mid-market private equity in Canada ideally suits our Bain & Company backgrounds, as we have a demonstrated track record of working productively with our portfolio companies and creating leading Canadian businesses,” added Larry Stevenson, Callisto’s other Managing Director.
Callisto, alongside senior management teams, invests in the Canadian mid-market in a broad range of industries, including health care, retail and business services. It typically deploys $25 million to $50 million in equity capital per investment, seeking superior returns with carefully controlled risk.
Callisto Capital IV’s target size is $300 million and a final close is expected to occur during 2015.