NRD Capital Management has raised $104.5 million for its second fund, beating its $100 million target. The fund will focus on backing restaurant and healthcare franchises.
ATLANTA, GA – July 12, 2017 – NRD Capital Management, LLC (“NRD”), an Atlanta-based private equity firm that specializes in franchised and multi-location business investments, today announced it has closed NRD Partners II L.P. (“NRDP II”) with total investor limited partner commitments of $104.5 million secured over the past four months, exceeding the fund’s target of $100 million.
NRD focuses on companies specializing in franchised and multi-location business models. With NRDP II, the firm will continue its strategy of investing in brands that offer superior products/services and compelling unit economics, and maximizing their potential through the franchise business model. As NRD looks to invest NRDP II, it will continue to invest in domestic and international restaurant concepts, as well as new and emerging verticals such as healthcare franchising, in order to take advantage of important future trends.
“We are extremely pleased at how quickly we were able to raise this fund as it is a testament to the confidence our limited partners have in our unique investment philosophy. We greatly appreciate the continued support from our Fund I investors – 95 percent of whom have also invested in Fund II, many with significantly higher commitments,” said Aziz Hashim, Managing Partner of NRD. “We are also delighted to welcome a number of new investors to Fund II. In fact, interest has been so great that the fund is oversubscribed and has a waiting list of additional interested investors.”
NRD is currently investing out of NRD Partners I L.P., a $46 million fund raised in 2014. Overall, NRD has raised over $150 million of equity capital commitments since its inception in 2014.
Hashim continued: “With our operating expertise, wide network of franchisees and partnership approach to interacting with our portfolio companies, we have the unique ability to enable accelerated, but responsible, growth for brands. We look forward to making collaborative equity investments to enhance our portfolio and create opportunities for entrepreneurs through franchising.”
NRD has thus far acquired two multi-location franchise brands, Frisch’s Big Boy and Fuzzy’s Taco Shop, which have generated $450 million in annual system revenues from 220 locations in 12 states. Both brands are currently in NRD’s portfolio. For more information please visit www.nrdcapital.com.
About NRD Capital
NRD Capital Management, LLC, invests in brands that offer superior products or services and compelling unit-level economics in order to help them strategically grow through the power of franchising. The fund was founded in 2014 by Aziz Hashim, one of the world’s leading experts on franchising, with the goal of leveraging operational and financial experience to position high quality brands for responsible accelerated growth. The differentiated private equity fund takes a unique approach to investing, applying operating expertise and leveraging its wide network of franchisees in addition to infusing capital in its portfolio companies.