PWP Growth Equity has closed its second fund at a hard cap of $750 million, beating its $600 million target. PWP Growth Equity backs lower middle market companies in the consumer, industrial and services sectors.
New York, May 22, 2017 – PWP Growth Equity announced today that it has completed fundraising for PWP Growth Equity Fund II (“the Fund”). It closed on its hard cap with total commitments of $750 million, surpassing its $600 million fundraising target. PWP Growth Equity manages two funds with $1.350 billion in aggregate commitments.
PWP Growth Equity focuses on investing in growth-oriented, lower middle market companies across the consumer, industrial and services sectors. It seeks to partner with existing owners and management teams, delivering capital in a variety of structures, while also providing the benefit of the team’s extensive experience to help companies execute on their growth objectives and plans for value creation.
David Ferguson, Co-Head of PWP Growth Equity, said, “We are excited to announce the successful fundraise of PWP Growth Equity Fund II and are thankful to both the existing and new Limited Partners who participated. The strong interest in the Fund reflects investor confidence in our strategy, which begins with partnership and leverages our expertise to help companies in the next phase of their evolution.”
Chip Baird, Co-Head of PWP Growth Equity, commented, “PWP Growth Equity Fund II extends our ability to partner with uniquely differentiated and competitive businesses to help them achieve significant growth. We are pleased that our investors share our enthusiasm for the attractive investment opportunities currently available in the lower middle market.”
Terry Meguid and Aaron Hood, Co-Heads of Asset Management at Perella Weinberg Partners, said “Identifying attractive investment opportunities and delivering strong results to support our investors’ needs has been a central focus of the team. We are thrilled with their continued success. This Fund builds on the momentum achieved by PWP Growth Equity Fund I and is a great representation of the distinct investment solutions PWP offers clients.”
About PWP Growth Equity
PWP Growth Equity is the middle market private equity group of Perella Weinberg Partners, managed by Chip Baird and David Ferguson. PWP Growth Equity is focused on growth-oriented, lower middle market companies, primarily in the United States, across the consumer, services, and industrial sectors. PWP Growth Equity seeks to partner with existing owners and management teams, providing both capital and experience in a tailored and flexible structure, to support the growth plans and vision for value creation. PWP Growth Equity Fund I investments include: Hyphen Solutions, Black Bear Diner, MOD Pizza, Build-A-Sign, MSA Security, Western Window Systems, YouFit Health Clubs and Fashion to Figure. PWP Growth Equity announced the sale of Trench Plate Rental Co. to funds managed by the Power Opportunities Group of Oaktree Capital Management, L.P. in October 2016.
For more information on PWP Growth equity, please visit http://go.pardot.com/e/68972/2017-05-22/69yxgs/379450317.
About Perella Weinberg Partners
Perella Weinberg Partners is a leading independent, client-focused financial services firm providing advisory, asset management and energy securities research, underwriting and trading services to a broad, global client base, including corporations, institutions and governments. Together with its affiliates, the Asset Management business has capital commitments and managed assets of approximately $13.7 billion. With more than 600 employees, Perella Weinberg Partners maintains offices in New York, Houston, London, Abu Dhabi, Denver, Dubai, San Francisco, Calgary, and Los Angeles. For more information on Perella Weinberg Partners, please visit http://go.pardot.com/e/68972/2017-05-22/69yxgv/379450317.