Grey Mountain Partners, a lower middle market private equity firm, is halfway to its $250 million fundraising target for its second vehicle, according to an SEC filing. The firm, based in New York, launched fundraising last March. This week Grey Mountain Partners Fund II LP closed on $124.8 million in commitments from 18 investors.
Harken Capital Advisors, a division of Compass Securities Corp., and Helix Associates, a division of Jefferies & Co., are serving as placement agents in the effort. Grey Mountain’s partners have committed 1.5% of commitments of all partners to the fund. The firm received a pledge from Guardian Life Insurance Company of America last year.
Grey Mountain was formed in by Jeff Kuo, former head of Oasis Foods, and Rob Wright, formerly of Three Cities Resaerch, to invest in companies with less than $30 million in revenue or $5 million in Ebitda. The firm focuses on companies in manufacturing, distribution, services, software, packaging, energy, financial services, defense and chemicals.
Investments include AQS Inc., a business technology company, Bolttech Mannings, a manufacturing service provider, Distribution International, an industrial product distributor, Herr-Voss Stamco, Inc., a maker of metal coil equipment, Infra-Structures, Inc., a business services company, and Robbins LLC, a maker of rubber compounds.