Guardian Capital Partners said Monday that its second fund closed at its hard cap of $153.5 million. Guardian Capital Partners Fund II LP was oversubscribed and three times larger than its debut fund, which closed at $50 million in January 2010. Wayne, Pa.-based Guardian Capital target lower middle market companies in sectors such as consumer products, niche manufacturing and specialty business services with EBITDA between $3 million and $9 million.
WAYNE, PA.–(BUSINESS WIRE)–Guardian Capital Partners (“Guardian”) is pleased to announce the final close of Guardian Capital Partners Fund II, L.P. (“Guardian Fund II”). Guardian Fund II reached its hard cap of $153.5 million in capital commitments in less than twelve months of fundraising and was oversubscribed. Guardian Fund II is three times larger than Guardian’s debut fund which it raised in 2008/2009. Approximately 90% of Fund I LPs re-committed for the new fund, as well as over a dozen new institutional and single family office investors, and many new individual high net worth investors.
“We are grateful to our new and returning Limited Partners for their strong support of Guardian Fund II. We look forward to the opportunity to put the fresh capital to work over the next few years and build a robust portfolio of companies and management teams. We are extremely pleased with the how the fundraising process played out,” said Guardian’s Managing Partner, Peter Haabestad, who managed the fundraising process.
Scott Evans, Managing Partner, added, “Guardian has built a strong team of private equity investment professionals focused on superior deal execution, intelligent portfolio company governance and value-added support and leadership to our lower middle market companies and their management teams. Our strong Fund I performance without a doubt helped tremendously in our fundraising process.”
Gibson Dunn & Crutcher, LLP provided fund formation and tax counsel to Guardian Fund II. Ernst & Young provides audit and tax services to Guardian. Guardian did not rely on placement agent services during the fundraise process.
For more information about Guardian Fund II, contact Peter Haabestad or Scott Evans at Guardian Capital Partners.
About Guardian Capital Partners (www.guardiancp.com)
Guardian Capital Partners is a private equity firm based in suburban Philadelphia that makes control investments in lower middle market private companies located primarily in the United States with annual revenues between $20 million and $100 million and EBITDA between $3 million and $9 million. Guardian is focused on and has expertise in three specific sectors: consumer products, niche manufacturing and specialty business services. Guardian partners with management teams to provide equity capital to lead leveraged buyouts, recapitalizations and divestitures of family-owned businesses and non-core divisions of larger corporations. The private equity experience and complementary skill sets of the Guardian team provide a unique combination of operating and finance capabilities resulting in certainty of execution and meaningful long-term value creation for its portfolio companies.