Keystone National, a private equity fund-of-funds manager and advisory shop, is halfway to its fundraising goal on Keystone Private Equity Opportunities II LP, according to a regulatory filing. The firm has raised $73.5 million toward its $150 million goal from 89 investors. Keystone launched the fund in 2008.
The firm primarily invests capital from wealthy individuals into private equity funds.
Keystone lists placement agent compensation from professionals at Cambridge Investment Research, SMH Capital, Sunbelt Securities, National Planning Corporation, Lincoln Financial Advisors Corporation and Geneos Wealth Management.
The firm’s previous fund raised $75 million in commitments in 2007. The firm deployed its capital into 12 to 15 funds, including small buyout funds, large buyout vehicles, middle-market funds a growth equity funds. At the time of close for its first fund, Keystone had made plans to donate 20% of its carried interest profit to global charities, including a micro-lending group.
Scottsdale, Ariz.-based Keystone was founded in 2006 when Brandon Neilson of Regional Investment Partners, based in Dallas, joined forces with former Lehman Brothers investment banker John Earl and Barry Smith, a health care executive. Smith is no longer listed on the firm’s website.