The Beekman Group LLC, a New York City-based lower-middle market private equity firm, has closed its fourth fund at a hard cap of $425 million, beating its $375 million target. The limited partners of Beekman Investment Partners IV include family offices, endowments and foundations, consultants, insurance companies, fund of funds and high-net worth individual. The private fund group of Credit Suisse Securities (USA) LLC was the placement agent.
NEW YORK–(BUSINESS WIRE)–The Beekman Group LLC (“Beekman”), a private equity firm that partners with entrepreneurs and management teams to accelerate growth in lower middle-market services companies, announced the closing of Beekman Investment Partners IV, LP (“Beekman IV”) at its $425 million hard cap. Due to significant demand from existing investors and strong interest from new investors, Beekman IV was meaningfully oversubscribed and exceeded its initial target of $375 million.
Beekman IV’s investors include a highly regarded group of globally diverse institutions, comprised of leading family offices, endowments and foundations, consultants, insurance companies and fund of funds, as well as high net worth individuals and a significant commitment from the Beekman team. Beekman’s investment team is led by CEO & Managing Partner, John G. Troiano, a former partner at Onex Corporation, and Managing Directors, Andrew Marolda, Andrew Brown and Chris Artinian.
“We greatly appreciate the strong support of our existing and new limited partners and are very pleased by the investor interest that allowed for a close at our $425 million hard cap within six months of launch,” said Mr. Troiano. “Since our inception 14 years ago, Beekman has now raised over $825 million in total capital commitments while continuing to generate strong and consistent returns for our limited partners. We are excited to continue executing on our disciplined, core investment strategy and to continue partnering with exceptional limited partners and management teams.”
Beekman focuses on investing in lower middle market companies with enterprise values ranging from $15 million to $200 million in consumer, healthcare, business and industrial services. “Our investment team of over 25 people, including our seasoned operating executives, are excited to continue to provide expertise and resources to assist our portfolio companies in driving growth and building leading operations to accomplish our collective investment objectives,” commented Mr. Marolda. Beekman partners with entrepreneurs and management teams who desire to create meaningful value by accelerating a range of organic and acquisition growth initiatives.
The law firm Proskauer Rose LLP represented The Beekman Group and the Private Fund Group of Credit Suisse Securities (USA) LLC served as Beekman IV’s placement agent.
About The Beekman Group
Founded in 2004, The Beekman Group is a leading private equity firm based in New York City, dedicated to bringing financial and operational resources to lower middle-market companies. Beekman’s team consists of experienced private equity professionals, as well as a select group of operating executives who are leading executives in Beekman’s targeted industry segments. This approach to investing is the cornerstone of Beekman’s investment strategy — creating value through accelerating growth in partnership with small and middle-market management teams.