Capital Management · Deployment Pace
Capital Deployment & Dry Powder
Year 3 of 5-year investment period · 70% called
Investment Thesis
Disciplined Capital Deployment at Accelerated Pace
Fund IV is tracking 10 percentage points ahead of target deployment pace, reflecting strong deal flow and IC conviction. Remaining dry powder is earmarked for 2-3 bolt-on acquisitions and one new healthcare services platform.
Implication 1
Accelerated pace driven by two platform deals closing ahead of schedule in Q3 — no compromise on underwriting discipline.
Implication 2
Bolt-on pipeline of 5 identified targets across existing platforms supports full deployment within investment period.
Called Capital
$1.93B+10%
70% of commitments
Dry Powder
$825M
Uncalled commitments
Investments
7
Platform acquisitions
Bolt-Ons
16+4 YTD
Add-on acquisitions
Capital Call & Deployment Timeline ($M)
Investment Period Utilization
Year 3 of 5Deployed: $1.93BRemaining: $825M
70% of committed capital called · Year 3 of 5-year investment period
PACE COMMENTARY
Fund IV is tracking ahead of plan with 70% deployed in 3 years vs. 60% target pace. Remaining dry powder of $825M reserved for 2-3 bolt-on acquisitions across existing platforms and one new platform investment in healthcare services.