Benford Capital has closed its inaugural fund at $130 million, beating its $100 million target. BCP Fund I’s limited partners include university endowments, family offices, pension funds, fund of funds, and high-net worth individuals. Triago served as placement agent while Kirkland & Ellis provided legal counsel. The Chicago-based private equity invests in the lower middle market.
Benford Capital Partners Management, L.P. (“Benford Capital” or “Benford Capital Partners”), a Chicago-based private equity investment firm, announced the final closing of its inaugural private equity investment fund, Benford Capital Partners Fund I (“BCP Fund I” or “Fund I”). BCP Fund I closed with total limited partner commitments of $130 million, surpassing the initial target of $100 million. In Fund I, Benford Capital will continue to focus on buying and building smaller, lower middle market businesses with $5-50 million of annual revenue. Since being founded in 2004, the firm has acquired 20 companies and now has 9 investment and operating professionals to support its continued growth.
Benford Capital Partners received commitments from a well-respected group of limited partners which included university endowments, family offices, pension funds, fund of funds, and high net worth individuals. Benford Capital’s founding partners Edward Benford and Benjamin Riefe also made significant investments.
“We are extremely grateful to each of our limited partners for their support and confidence in us,” said Managing Director, Edward Benford. “We’re excited about the next chapter of growth for our firm and continuing our strategy of scaling unique lower middle market businesses in partnership with management.”
“The lower middle market continues to offer compelling investment opportunities that align with our operational approach to long-term value creation,” added Benjamin Riefe, Managing Director. “In Fund I, we look forward to building upon our past success while continuing to grow and develop our team of investment and operating professionals.”
Benford Capital has already consummated the first platform investment for Fund I with the acquisition of LiteSentry, a niche market-leading test and measurement business selling into the glass industry.
Triago acted as placement agent and Kirkland & Ellis provided legal counsel.
About Benford Capital Partners
Based in Chicago, Benford Capital Partners is an operationally oriented private equity firm focused on buying and building smaller, lower middle market companies in partnership with management. Benford Capital has deep experience helping businesses grow and thrive over the long-term, with a focus on industries where the firm has a successful investment track record and operating experience. For more information, please visit our website: www.benfordcapital.com