Sterling Pitches $800 Million Single-Asset Continuation Fund

Sterling Investment Partners aims to collect at least $800 million for a continuation fund that will allow it to extend its ownership of vegetation-management company Xylem Kendall, according to people familiar with the matter.

Evercore Inc. is advising the private equity firm on the fundraising, the people said, asking not to be identified because the details are confidential. Sterling declined to comment and Evercore didn’t reply to an email seeking comment.

Sterling invested in Kendall Vegetation Services in April 2022 and merged it with Xylem Tree Experts that September. The combined firm, which also provides emergency storm-response services in ...