Quad Partners said Sept. 10 that its latest fund closed on $229 million, exceeding its $200 million target. Quad Partners V LP has made three investments to date: Cayuse, Watermark, and Rubicon International, which was recently sold to a strategic.
Quad Partners (“Quad”), a lower middle-market private equity firm focused on the education industry, announces the final closing of Quad Partners V LP (“Quad V”) at $229 million, exceeding its $200 million target.
“We are thankful to our returning and new limited partners who are supporting us in our efforts to invest in and build high-quality education companies,” said co-founder Lincoln Frank.
“Fortunately, over the years and through various market cycles, we have benefited from having partnered with outstanding entrepreneurs and management teams, who have built leading site-based, tech-enabled service, and SaaS companies in the education industry,” added co-founder Daniel Neuwirth.
With this new fund, Quad will continue its strategy of acquiring and investing in smaller education businesses and building them into professionally-managed, mid-sized companies. Quad V began investing in 2017 and has made three investments to date: Cayuse, Watermark, and Rubicon International, which was recently sold to a strategic buyer.
Quad V builds on the firm’s 19-year history investing exclusively in the education industry. Quad typically invests between $10 million and $50 million in companies with up to $100 million in annual revenue.
Predecessor fund, Quad Partners IV LP (“Quad IV”), closed at $206 million in 2012.
Asante Capital Group acted as global placement agent for Quad V, and Weil, Gotshal & Manges LLP provided legal counsel.
About Quad Partners
Quad Partners is a private equity firm committed to creating long-term value by investing in and building high-quality education companies. Founded in 2000 by Lincoln Frank and Daniel Neuwirth, Quad has raised approximately $800 million over its history. Since its inception, Quad has invested in more than 60 education companies, either as platforms or as add-on acquisitions to existing platforms.
For more information about Quad, please visit our website at www.quadpartners.com.