Huron Capital Partners said Feb. 1 that it closed its latest fund with $550 million of total limited partner capital commitments, surpassing its hard cap and $500 million target. Huron Fund V LP had over $1 billion of demand and will seek control transactions in the lower middle market with valuations generally under $200 million. The fund will focus on committing a total of $20 million to $70 million equity per transaction. Sixpoint Partners was the placement agent for the fund.
Huron Capital Partners Closes $550 Million Private Equity Fund At Hard Cap
Sixpoint Partners served as exclusive global placement agent
New York, February 1, 2017 – Sixpoint Partners, a leading global investment bank serving the middle market, today announced the successful closing of The Huron Fund V L.P. (“Fund” or “Fund V”), with $550 million of total limited partner capital commitments. The Fund, which is the sixth investment vehicle for Huron Capital Partners (“Huron”), closed at its hard cap and in excess of its $500 million target. Receiving commitments from a number of top-tier investors, including endowments, foundations, multi-manager funds, public pensions, corporate pensions and family offices, the Fund closed after just three months of marketing and was oversubscribed with over $1 billion of demand.
Like its predecessor, The Huron Fund IV L.P., which also closed above its target at $500 million of capital commitments in 2013, Fund V will seek to utilize Huron’s operationally-focused, buy-and-build approach to identify and acquire fundamentally-sound companies and build them into leaders. The Fund will seek control transactions in the lower middle market with valuations generally under $200 million and will focus on committing a total of $20 million to $70 million per transaction. The firm is led by its senior partners, Brian Demkowicz, Michael Beauregard, John Higgins and PeterMogk.
“We deeply value the tremendous confidence and broad support that our new and existing investors have placed with our experienced investment team and remain focused on delivering strong returns to our LP base,” said Brian Demkowicz, Managing Partner at Huron. “We look forward to deploying our buy-and-build strategy in partnership with seasoned executives to improve and grow our businesses through strategic initiatives, operational improvements and add-on acquisitions.”
“With over $1 billion of demand for Fund V, we believe Huron’s 16-year track record drove robust demand from investors for its disciplined investment process and proven strategy,” said Eric Zoller, Partner at Sixpoint Partners. “Huron is an excellent representative of Sixpoint’sexceptional relationships in the lower middle market for our LPs.”
Larry Smith, Partner at Sixpoint Partners added, “Given Huron’s long track record and focus on attractive opportunities within the lower middle market, we expect Huron’s oversubscribed fund to generate strong returns, and we look forward to continuing our partnership.”
About Huron Capital Partners
Based in Detroit, Huron is an operationally-focused private equity firm with a long history of growing lower middle-market companies through its proprietary ExecFactor® buy-and-build investment model. Huron prefers complex situations where it can help companies reach their full potential by combining its operational approach, substantial capital base, and transaction experience with seasoned operating executives.
Founded in 1999, Huron has raised over $1.7 billion in capital through six committed private equity funds and invested in 130 companies. The Huron buy-and-build investment model includes equity recapitalizations, family succession transactions, market-entry strategies, corporate carve-outs, and management buyouts of companies having revenues up to $200 million. Huron targets fundamentally-sound companies that can benefit from the firm’s operational approach to creating value. Huron’s sector focus includes business services, consumer products & services and specialty manufacturing. For more information, please visit www.huroncapital.com.
About Sixpoint Partners
Sixpoint Partners is a leading global investment bank focused on a diversified set of services and solutions for the middle-market private equity industry. The firm’s core areas of focus include (i) primary fund placement, (ii) secondaries advisory and (iii) co-investment placement across a wide range of industries, strategies and geographies. Sixpoint Partners has a reputation for its direct, results-driven style and for delivering innovative solutions to complex problems in order to create long-term value for clients. Sixpoint is headquartered in New York with offices in Chicago, San Francisco and Hong Kong. For more information, please visithttp://www.sixpointpartners.com/.
Sixpoint Partners, LLC, is a registered broker/dealer, member FINRA (http://www.finra.org) and SIPC (http://www.sipc.org). Sixpoint Partners Asia Limited is licensed by the Securities and Futures Commission (http://www.sfc.hk).
For Sixpoint Partners, please contact:
Alicia Battistoni, Marketing Coordinator
Eric Zoller, Founder & Partner
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