TJC LP Closes Continuation Fund at $2.1 Billion for Portfolio Companies Including Assets from Resolute III and Resolute IV

TJC LP, a middle-market private equity firm primarily investing in North American businesses, has announced the closure of its second continuation fund, the Continuation Fund, at $2.1 billion. This fund will serve as an extension of The Resolute Fund III, L.P. and will include an asset jointly owned with The Resolute Fund IV, L.P.

The Continuation Fund has acquired a total of five portfolio companies, comprising assets from Resolute III and a portfolio company jointly owned with Resolute IV. The fund aims to provide TJC with the time and capital needed to accelerate the growth of core portfolio assets while offering limited partners from Resolute III and Resolute IV an opportunity for timely liquidity.

The transaction, which garnered overwhelming support from limited partners and was oversubscribed by new investors, was led by AlpInvest, a subsidiary of global investment firm Carlyle. The deal also included a diverse group of secondary and primary investors, with TJC offering existing limited partners the opportunity to exercise various options. TJC LP, operating with a senior leadership team that has invested together for over 22 years, has worked across various industries and managed $31.4 billion of assets under management as of June 30, 2024. AlpInvest, a subsidiary of Carlyle, manages over $80 billion of assets and has invested with over 360 private equity managers. Read the full press release here.