KRG Capital Mines $119M for Debut Fund –

KRG Capital Partners, a group of Denver bootstrappers, this month held a second close on their debut buyout fund, rounding up a total of $119 million.

The fund was launched in March with a target of between $125 million and $150 million and a cap of $200 million (BUYOUTS April 19, p. 4).

Limited partners who signed on to the vehicle include pensions, banks, insurance companies and wealthy individuals, according to Dale Meyer, head of private placements at Bank of America (formerly NationsBanc Montgomery Securities), which is raising the fund.

KRG is looking for L.P.s interested in co-investment opportunities. The group will target the manufacturing and distribution sectors.

Working on a deal-by-deal basis, KRG has completed 27 acquisitions since 1996.

Meyer said fund raising will continue until the $200 million cap has been reached.