About This Fund
The Keystone Fund III will continue to invest primarily in North American businesses across five industry sectors: Engineering and Technical Services, Tech-enabled Services, Commercial Services, Industrial Technology, and Food and Beverage. The fund will focus on executing its ""buy and build"" strategy, with a track record of 170 acquisitions across 42 different industry-leading platforms. The fundraising for Fund III was oversubscribed, reaching its hard cap of $630 million in capital commitments in just four months. The firm's largest single investor is Keystone professionals, and 100% of its Fund II institutional investors have returned. In addition, new endowments, foundations, insurance companies, and family offices have contributed to the broadening of the investor base. Keystone's investment strategy remains focused on the lower middle market, pursuing opportunities for consolidations and driving organic and inorganic growth and operational efficiencies. The fund will continue building relationships and partnerships with founders, management teams, financing sources, and limited partners while staying committed to its time-tested strategy, despite transitioning to outside, third-party capital.