Sterling Investment Partners (“Sterling” or the “Firm”), a leading middle market private equity firm focused on business services and distribution sectors, today announced the final close of its fifth institutional fund, Sterling Investment Partners V, L.P. (“Fund V”), at its hard cap of $1.6 billion in institutional capital commitments plus significant investment by Sterling employees. Fund V was significantly oversubscribed, surpassing its $1.25 billion target and fully committed within a few months of launching. The majority of Fund V’s capital was committed by returning investors, and Sterling is pleased to welcome several new, global institutional investors. 

Consistent with Sterling’s successful track record in prior funds, Fund V will target for-control equity investments in middle-market companies within Sterling’s core sectors of business services and distribution. The firm has an operationally intensive investment approach and a successful history of working in close partnership with founders, entrepreneurs and CEOs to grow and improve their businesses.

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Fund V has made its first investment in XKIG, a former portfolio company of its predecessor fund, alongside a Sterling managed continuation vehicle (“CV”). The CV recently closed and was also significantly oversubscribed.

Charles Santoro, Co-Founder and Managing Partner, James Soldano, Managing Partner, and Mike Barr, Managing Partner collectively stated “We feel our firm has never been better positioned. We are humbled by the support of our investors and are enthusiastic about the opportunities for Fund V which has already completed its first platform investment. As Sterling has grown over our more than 30-year history, we have built on our strong culture and continuity and we have scaled our capabilities and committed capital base in an effort to continue to generate value for our limited partners.”

Ruth Lane, Senior Managing Director and Head of Investor Relations said “We could not be more appreciative of our investors’ continued support and confidence. The robust enthusiasm for Fund V is a testament to our dedicated team and to our strategy that continues to advance the scale and quality of our global partnerships.” 

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