Ex-GSO exec’s firm, Dunes Point, nears final close on debut institutional fund

  • Firm has invested deal by deal since 2013
  • Led by ex-GSO exec Tim White
  • Reached halfway to target

Dunes Point Capital raised $535 million for its debut institutional fund, which is targeting $600 million, according to a person with knowledge of the firm.

Dunes Point has a hard cap of $650 million, the person said. A Form D filing from earlier this month said the firm had raised $375 million. 

Dunes Point Capital Fund II hit the market last year and is expected to close in January, the person said. The Rye, New York, firm invests in North American middle-market industrial companies. 

Dunes Point’s first fund was a small pool committed to by a select group of family offices. 

Tim White, a former executive at GSO Capital Partners who ran a small equity allocation out of the main mezzanine fund, formed Dunes Point in 2013

Other Dunes Point executives include James Baker, a former principal in the PE group at Investcorp who joined in 2016; and Jordan Benyas, a principal who joined in 2013 from Lincoln International.

Earlier this year the firm hired Ryan Miller as a principal from Lindsay Goldberg, where he worked for more than 10 years; and Nick Bunn as a principal from Atalan Capital Partners.

This year Dunes Point acquired Sonneman – A Way of Light, which designs and makes architectural lighting; and Specialty Products and Insulation, which makes mechanical insulation and other products for commercial applications.

Another of Dunes Point’s big platforms is Harvey Building Products, which was established in 2015 and has been growing through acquisitions since. Earlier this year, Harvey added on Thermo-Tech Windows.

As of Dec. 31, 2017, Dunes Point managed about $820 million in assets on a discretionary basis.

Action Item: Check out Dunes Point’s Form ADV here: https://bit.ly/2AeVhCW