Tower Arch Capital held a final close on its second fund on $450 million, reaching its hard cap. Tower Arch Partners II investors include current and former management team members, foundations, diversified financial institutions, endowments and family offices. Shannon Advisors worked as placement agent.
Tower Arch Capital, LP (“Tower Arch Capital”) a Salt Lake City, UT-based investment firm, is pleased to announce the closing of Tower Arch Partners II, LP and its parallel investment entity (collectively,”Fund II”) with $450 million of capital commitments. Fund II closed at its hard cap and was substantially oversubscribed.
The fund’s investors include current and former management team members, foundations, diversified financial institutions, university endowments, and family investment offices. Tower Arch Capital professionals are significant investors personally and remain collectively one of the largest investors across Fund I and Fund II, driving alignment between the firm and its limited partner base.
“We are thrilled to have a supportive base of existing investors and to be able to add an impressive group of new investors, which led to a quick and efficient fund closing,” said David Topham, Partner and Co-Founder of Tower Arch Capital. “We are also proud to have many of our Fund I management team members join us as investors in Fund II.”
Fund II’s investment focus will continue to be in the lower middle market, targeting transformational opportunities where founder and family-owned businesses are in need of capital and/or professionalization to take them to the next level of growth and success.
“We have had great results executing on our strategy and generating attractive returns for our investors,” said Rhett Neuenschwander, Partner and Co-Founder of Tower Arch Capital. “We look forward to continuing our successful model of bringing first time institutional capital to business owners as we deploy Fund II.”
Shannon Advisors acted as placement agent, and Kirkland & Ellis acted as legal counsel.
About Tower Arch Capital
Headquartered in Salt Lake City, UT, Tower Arch Capital is a lower-middle market private equity fund. Tower Arch partners with management teams of high-quality family and entrepreneur-owned companies to deliver long-term value. The firm brings operational, consulting, and financial expertise to their portfolio companies to give them the tools they need to achieve their full potential. For more information, please visit www.towerarch.com.
SOURCE Tower Arch Capital