FUNDRAISING NEWS | October 15, 2024
Indianapolis-based private equity firm CID Capital hit the hard cap for its fourth lower-middle-market buyout fund at $250M, exceeding the target size of $200M on its first and final close, and has also announced promotions to its leadership team.
CID Capital said Fund IV drew an investor base of institutional fund-of-funds, insurance companies, RIAs, endowments, and family offices, and will focus on lower-middle-market control investments in the industrial sector. CID was represented by Kirkland & Ellis and did not use a placement agent.
The firm also announced the promotion of Eric Derheimer and Cory Heck as managing partners to lead the investment team starting January 1, 2025. Alongside the duo’s shared role, Derheimer will oversee firm operations while Heck will retain leadership in investor relations. The move comes in anticipation of current managing partner Steve Cobb’s retirement by the end of 2025. Cobb will be serving as senior partner during the yearlong turnover period.
View the press release here.
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