Willkie represented ICV Partners, a value-oriented, lower middle market private equity firm focused on acquiring market-leading companies, in the fundraising for its fourth private equity fund, ICV Partners IV, L.P.
On July 23, Willkie client ICV Partners, a New York-based private equity firm, announced the close of its Fund IV at $585 million.
ICV Partners IV will pursue the same strategy as its first three funds with a focus on making control private equity investments in the lower middle-market, primarily in the United States. Funding from ICV Partners will continue to be used for acquiring market-leading companies at value prices and partnering with management teams to maximize the companies’ operational and market potential.
ICV Partners has invested in 23 companies since forming Fund I, with a primarily focus on achieving substantial long-term capital appreciation for investors by making value-oriented investments while minimizing operating and financial risks.
The Willkie deal team was led by partner Phillip Isom, and included counsel Daniel Mencaroni and associates Giovanni Smedley and Michael DeNiro.