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Exclusive: CHS Capital to wind down

February 1, 2013: 10:33 AM ET

CaptureChicago private equity firm won't raise another find.

FORTUNE -- CHS Capital, the Chicago-based private equity firm formerly known as Code Hennessy & Simmons, has decided to call it a day.

Fortune has learned that CHS will not raise a new fund, but will continue to manage out its remaining portfolio companies.

CHS was founded in 1988 by a trio of former members of Citicorp's leveraged capital group, and has focused on middle-market companies in a variety of sectors. It raised five funds, the most recent of which being a $1.3 billion vehicle in 2005. It later talked about coming back to market with a $2 billion-targeted vehicle, but it never gained enough traction.

Notable CHS investments have included American Reprographics, Baker Tanks and Beacon Roofing Supply.

Co-founder Andrew Code began transitioning out a couple years back to form an investment management firm that also has a private equity arm (Promus Equity Partners). Fellow co-founders Brian Simmons and Daniel Hennessy were not available for comment yesterday, but a firm spokesman said Simmons would be calling me on Monday. So more details to come.

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Dan Primack
Dan Primack
Senior Editor, Fortune

Dan Primack joined Fortune.com in September 2010 to cover deals and dealmakers, from Wall Street to Sand Hill Road. Previously, Dan was an editor-at-large with Thomson Reuters, where he launched both peHUB.com and the peHUB Wire email service. In a past journalistic life, Dan ran a community paper in Roxbury, Massachusetts. He currently lives just outside of Boston.

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