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December 18, 2023
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Argonaut Funded $500M for Industrial Power Players: Exclusive WSJ News

  • Argonaut Private Equity has raised $500 million for its latest fund, surpassing its initial target of $400 million.
  • The fund will back smaller industrial businesses in underserved areas of the U.S., amidst a shift from technology investments due to rising interest rates.

Argonaut Private Equity is a Tulsa, Oklahoma-based buyout firm initially established to manage the investments of billionaire oilman George Kaiser. The firm announced it successfully raised $500 million for Argonaut Private Equity Fund V, reaching its upper fundraising limit.

The fund will be invested in smaller industrial businesses in underserved parts of the U.S., and this successful fundraising effort comes at a time when investors are pivoting from technology due to sharply higher interest rates. The firm had initially targeted to collect $400 million for the fund but managed to raise an extra $100 million.

Argonaut’s focus on lesser-served areas and smaller businesses signals a strategic move to identify untapped investment opportunities and generate growth. It reflects an ongoing trend in the private equity sector where firms are broadening their investment horizons beyond traditional target areas and industries.

Overall, Argonaut Private Equity’s successful fundraising underscores the increasing interest in industrial businesses as a hedge against uncertainties in the tech industry and the potential impacts of rising interest rates.

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