Eureka racks up over $200m for fourth fund

Eureka Equity Partners has closed its fourth fund at over $200 million.

Eureka Equity Partners has closed its fourth fund at over $200 million. The fund’s limited partners include public and corporate pension funds, fund of funds, insurance companies and family offices.

PRESS RELEASE

PHILADELPHIA, PA, October 19, 2020 – Eureka Equity Partners, L.P. (“Eureka”) today announced the final closing of Eureka IV, L.P. (“Fund IV”) with just over $200 million in capital commitments. Fund IV is the successor small buyout fund to Eureka’s $175 million Eureka III, L.P. Fund IV’s limited partners include public and corporate pension funds, fund of funds, insurance companies, family offices and other established institutional investors. Consistent with Eureka’s prior funds, Fund IV included significant capital commitments from a select group of highly accomplished CEOs, entrepreneurs and executive leaders as part of its Invested Operating Partner Network that deepens Eureka’s relationship network and provides additional resources to the value-creation program Eureka brings to its portfolio companies.

“We are thrilled to have such strong support from our existing investors and to welcome select new institutional investors that are partnering with us for the first time in Fund IV,” said Chris Hanssens, Managing Partner of Eureka Equity Partners. “The demonstrated success of our strategy to build great companies as a first institutional equity partner to talented management teams enabled us to continue our growth in the current environment while maintaining our commitment to invest out of a series of smaller vehicles tailored to our end of the lower middle-market. We are excited to bring the resources and collaborative value-creation program, refined over nearly two decades for our market segment, to entrepreneurially minded business leaders that will become our newest partners as we deploy Fund IV.”

Eureka made its first platform investment in Fund IV with its recapitalization earlier this year of LegalPartners Group, an alternative legal services provider co-headquartered in Chicago and Atlanta, in partnership with operating management.

About Eureka Equity Partners
Eureka Equity Partners is a private equity firm targeting niche market leaders with up to $100 million in revenue across industry segments in which Eureka brings significant experience and operating resources, including business services, health care services, specialty manufacturing and consumer products. Eureka focuses on partnering with proven managers to drive the growth of promising companies into outstanding enterprises. Eureka leads buyouts that bring significant ownership to the operators driving the success of the business. With this core principle that aligns the interests of our operators and our investors, Eureka is also experienced and comfortable effecting minority recapitalizations with flexible investment structures designed to uniquely meet the needs of the company, its management team and other shareholders. More information about Eureka Equity Partners can be found at www.eurekaequity.com.