The CapStreet Group has held a final close on $325 million, the hard cap, for its fourth fund, George Kelly, the firm’s chairman and chief executive officer, confirmed.
The firm held a first close in January on $249.4 million for CapStreet IV LP, according to a filing with the U.S. Securities and Exchange Commission. CapStreet filed another SEC filing last week showing it had collected $325 million from a total of 63 investors. The firm did not use a placement agent, according to the most recent filing.
The fundraising process took three to four months from start to finish, Kelly said.
CapStreet targets lower mid-market companies with enterprise values of less than $150 million, according to the firm’s website. The firm, based in Houston, was founded in 1990 and has led or co-led investments in 35 portfolio companies.
CapStreet closed its third fund on $178 million in 2010. Performance information about the prior fund was not immediately available as of press time.
In September, CapStreet completed the recapitalization of Industrial Plant Services, a provider of corrosion resistant and non-metallic products for the petrochemical and industrial sectors.
Photo courtesy of Shutterstock.
If you do not receive this within five minutes, please try and sign in again. If the problem persists, please
email: subscriptions@peimedia.com.