Huntington Capital raises $91.7 mln for lower mid market fund

Huntington Capital said Monday it has closed its third fund at $91.7 million.

The limited partners for Huntington Capital Fund III LP include state and pension systems, regional and money center banks, as well as foundations and family offices.

The private equity firm said it has committed about $39 million from Fund III to eight investments.

Huntington Capital’s prior fund launched in 2008 and closed at $78.20 million. Fund II is generating an average IRR of 10.30 percent and an average multiple of 1.40x as of September 30, 2014, according to performance data provider Bison.

San Diego-based Huntington provides growth capital to lower-middle market companies. Currently, Morgan Miller, Tim Bubnack and Frank Mora lead the firm’s management team.

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