Gridiron Capital collects $1.35bn for fourth fund

Gridiron Capital has raised $1.35 billion for its oversubscribed fourth fund.

Gridiron Capital has raised $1.35 billion for its oversubscribed fourth fund. Gridiron IV’s limited partners include pension funds, insurance companies, family offices, endowments, and foundations. The fund will invest in branded consumer, B2B and B2C services, and niche industrial businesses.

PRESS RELEASE

NEW CANAAN, Conn., Dec. 17, 2020 /PRNewswire/ — Gridiron Capital, LLC (“Gridiron Capital” or the “firm”), an investment firm focused on partnering with founders, entrepreneurs, and management teams, is pleased to announce the closing of Gridiron Capital Fund IV and its affiliated Funds (“Gridiron IV”) at $1.35 billion, reaching its hard-cap. With a broad base of distinguished investors including pension funds, insurance companies, family offices, endowments, and foundations, Gridiron IV was significantly oversubscribed and is the largest flagship fund in the firm’s history.

“With the closing of Gridiron IV, we are grateful to our investors for their partnership and support. Despite navigating a unique and challenging year, we are excited to celebrate the closing of our largest flagship fund to date as well as our 15-year anniversary, and look forward to strategically deploying this fund,” said Tom Burger, Co-Founder and Managing Partner. “At Gridiron, we are passionate about what we do each day and never lose sight of the people who are counting on us to deliver outstanding results – from our management teams and their employees, to our investors and their underlying constituents including retirees, children in hospitals, and students relying on financial aid. Our ‘Winning Together’ culture is an important part of who we are.”

Similar to prior funds, Gridiron IV will target control, equity investments in North America with a focus on branded consumer, B2B and B2C services, and niche industrial businesses. The firm takes a thematic approach to investing, known as Gridiron’s Thematic Areas of Expertise™, by identifying target areas early where the firm has a particular expertise and formulating a viewpoint and strategy ahead of establishing new partnerships. Leveraging this approach, Gridiron IV has already invested in five platform investments and six add-on investments and is approximately 50% deployed. With approximately $5 billion in AUM, Gridiron has invested in over 100 companies, including 28 platform investments over its 15 year history.

Kevin Jackson, Managing Partner at Gridiron Capital, stated, “We are extremely proud of the year we have had at Gridiron. We have kept our businesses healthy, in many cases accelerated growth, generated significant liquidity across multiple investments for our Limited Partners, invested in four fantastic platform companies with talented management teams, and completed our oversubscribed fundraise for Gridiron IV— all during a global pandemic. We are thankful for the steadfast confidence and long-term commitment of our investor partners who have remained supportive over the last 15 years and during this unprecedented year.”

As former entrepreneurs, investors, and business operators, Gridiron’s senior management has created a culture and investment approach based on their first-hand experience building and running businesses and understanding the importance of high-performing founders and management teams leading middle market companies. In conjunction with the extended Gridiron Team, including operating partners and our Board of Business Executives, the firm leverages the Gridiron Playbook and its eight functional Centers of Excellence to create repeatable value when partnering with founders and management teams.

Gridiron Capital’s fund formation counsel was Ropes & Gray LLP.

About Gridiron Capital, LLC
Gridiron Capital is an investment firm focused on partnering with founders, entrepreneurs, and management teams, and creating value by building middle-market companies into industry-leaders in branded consumer, B2B and B2C services, and niche industrial segments in the United States and Canada. We help transform growing companies by winning together through hard work, partnerships grounded in shared values, and a unique culture that comes from hands-on experience building and running businesses. As a team led by former operators and entrepreneurs, we know what it takes to run successful businesses on a day-to-day basis. Additional information is available on the firm’s website: www.gridironcapital.com.