Huron Capital has closed its latest fund at $142 million, beating its $100 million target. The Huron Flex Fund will make non-control investments in the lower middle market. The fund’s limited partners include endowments, foundations, multi-manager funds, corporate pensions and family offices. Sixpoint Partners was the placement agent.
NEW YORK–(BUSINESS WIRE)–Sixpoint Partners, a leading global investment bank serving the middle market, today announced the successful closing of The Huron Flex Equity Fund, L.P. (“Huron Flex Fund”), with $142 million of total capital commitments. The Huron Flex Fund, which is the sixth investment vehicle for Huron Capital Partners (“Huron Capital”) since 1999, easily surpassed its initial target of $100 million after only seven months in the market. Similar to Huron Capital’s other funds, The Huron Flex Fund’s diversified investor base includes endowments, foundations, multi-manager funds, corporate pensions and family offices. The Huron Flex Fund received strong support from existing Huron Capital investors as well as a number of new LP relationships.
The Huron Flex Fund is the inaugural expansion of Huron Capital’s established and growing investment platform serving the broader lower middle market. Huron Flex Fund expects to leverage the firm’s deep origination, due diligence, and operating resources to source and execute attractive investment opportunities. Huron Flex Fund will make non-control investments to provide customized and flexible solutions to help business owners accomplish a variety of growth and liquidity objectives. As with the other funds managed through the Huron platform, Huron Flex Fund will draw from Huron’s strengths as a value-added partner, using Huron Capital’s broad operational, financial and strategic resources to help businesses grow while allowing some or all of the existing shareholder group to retain its controlling interest. The senior members of the Huron Flex Fund team include Doug Sutton and Charlie Sheridan, who together have a successful 20+ year history of sourcing, closing and managing non-control investments in lower middle market companies.
“We deeply value the tremendous confidence and broad support that our new and existing investors have placed with our experienced investment team. We remain focused on delivering strong returns to our LP base across the platform,” said Brian Demkowicz, Managing Partner of Huron Capital. “We are focused on remaining a strategic solution provider to our limited partners and working with them to identify attractive entry points in the lower middle market. Our goal is to leverage 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 throughout the lower middle market.”
“We are proud to represent Huron Capital and view their expansion into non-control equity as the first step into a broader, measured expansion in the lower middle market,” said Eric Zoller, Founder & Partner at Sixpoint Partners. “The private equity market continues to evolve and Huron Capital remains at the forefront of this evolution. The Huron Flex Fund team is a proven group of investors that fit strategically with Huron Capital’s competitive advantages.”
Larry Smith, Partner at Sixpoint Partners added, “Huron Capital’s long track record of success and proven ability to source attractive investment opportunities within the lower middle market make it an ideal partner for investors seeking to broaden their exposure to this segment of the market. Huron Flex Fund is off to a great start and serves as a strong example of how institutional sponsors can thoughtfully leverage their platform and institutional resources for the benefit of their limited partners.”
About Huron Capital
Based in Detroit, Huron Capital 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 Capital prefers 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 Capital has raised over $1.8 billion in capital through six committed private equity funds and invested in over 150 companies. The Huron Capital 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 Capital targets both control and non-control investments in fundamentally-sound companies that can benefit from the firm’s operational approach to creating value. Huron Capital’s sector focus includes business services, consumer products & services and specialty industrials. For more information, please visit www.huroncapital.com.
About Sixpoint Partners
Sixpoint Partners is a leading global investment bank focused on delivering strategic advisory and fundraising solutions for the middle-market private equity industry. The firm’s core areas of focus include (i) primary fund placement and strategic advisory, (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, Austin and Hong Kong. For more information, please visit http://www.sixpointpartners.com/.