New York, NY (April 15, 2013) -- KPS Capital Partners, LP (“KPS”), a leading private equity firm, announced today the first and final closing of KPS Special Situations Fund IV (“KPS Fund IV” or the “Fund”) was held on April 12, 2013. KPS Fund IV, with $3.5 billion in investor capital commitments, will be focused on controlling investments in corporate carve-outs, turnarounds, restructurings, bankruptcies and other special situations.

KPS Fund IV, which had a $3.0 billion target, is the third oversubscribed institutional private equity fund raised by KPS. The fundraise was completed in under three months.

Michael Psaros and David Shapiro, Co-Founders and Managing Partners of KPS, said “We are humbled by the demand from the global investment community for KPS Fund IV and we are very grateful for the support of a group of prestigious investors from North America, Europe, Asia and Australia.

“We believe that the demand for the Fund reflects our ability, over decades and across economic cycles, to add real value as a general partner by seeing value where other investors do not, buying right and making businesses better. We believe our success is the result of our operations focused investment strategy, the long term continuity of our partnership and the strength of our core investment team.”

The KPS Fund IV investment team will be managed by partners Michael Psaros, David Shapiro, Raquel Palmer and Jay Bernstein, who lead a team of experienced and talented professionals.

The investment period for KPS Fund IV will commence following the conclusion of KPS Special Situations Fund III’s investment campaign.

Paul, Weiss, Rifkind, Wharton & Garrison LLP served as legal counsel in the formation of KPS Fund IV.