Painswick leads Core States continuation vehicle

Wacona announced the closing of a continuation vehicle for Core States Group on July 30, 2026. Painswick led the vehicle alongside a syndicate of institutional investors. Total commitments were approximately $210 million, including general-partner commitments; the announcement did not state Painswick's individual investment. The transaction allowed Wacona to maintain sponsorship while providing liquidity to existing investors. Core States supplies engineering, architecture and design services for multisite programs. The investment supports continued organic expansion and acquisitions. James Powers, a Painswick partner, commented on its customer relationships and expansion opportunities. Jefferies and Kirkland advised Wacona, while Proskauer served as legal advisor to Painswick.