Union Capital Associates, a lower middle-market private equity firm, has closed its second fund at a hard cap of $200 million. The fund’s limited partners included endowments, foundations, pension funds, financial institutions and family offices. Proskauer Rose LLP provided legal counsel on the fundraising.
NEW YORK, NY, July 13, 2017 – Union Capital Associates (together with its affiliates, “Union Capital”), a lower middle-market private equity firm, announced today the closing of its most recent pool of capital – Union Capital Equity Partners II, L.P. (the “Fund” or “Fund II”). The oversubscribed Fund closed at its hard cap of $200 million.
The Fund will invest in smaller U.S. founder-owned businesses, where Union Capital is typically the first institutional investor. Union Capital has a 50 year history of successfully partnering with business owners, entrepreneurs and management teams. Union Capital’s investment team has spent 12 years working together on private investments, and is supported by several of its former CEOs that provide general operations expertise to assist portfolio company management teams as well as provide deep industry knowledge in the areas of Union Capital’s focuses: food processing, specialty manufacturing, business process outsourcing, marketing services and franchised restaurants.
“We are pleased to announce the final and very successful closing of Fund II. We appreciate the trust that our investors have shown us,” said Bill Ogden, Managing Partner. Reis Alfond, Managing Partner added “This rewarding fundraising underscores our investors’ enthusiasm for our investment approach, our disciplined focus on the lower middle market and the strength of our team. We look forward to investing Fund II on behalf of our investors.”
The Fund received strong support from a globally diverse group of investors including endowments, foundations, pension funds, financial institutions and family offices.
Alicia Cooney, Managing Director at Monument Group added, “Monument Group was privileged to work with Union Capital on this very successful fundraise. The diversified investor interest is a testament to the Union Capital team’s breadth of experience and their strong track record, achieved over more than a decade of working together.”
Proskauer Rose LLP served as legal counsel on the Fund II capital raise.
About Union Capital Partners
Union Capital Associates (together with its affiliates, “Union Capital”) is a leading lower middle-market private equity firm that invests in smaller U.S. founder-owned and family owned businesses. Since 1968, the Union Capital team has built a reputation for successfully working with management teams to assist them in implementing mutually agreed upon operational changes that enhance the capabilities of founder-owned companies while providing liquidity to founders as well as capital for growth and acquisitions. Union Capital is the successor to Union Capital Corporation founded by Jim Marlas, and has a nearly 50 year reputation with lenders, co-investors and business owners for operating with the highest integrity. Today, Union Capital is managed by its three managing partners – Reis Alfond, Bill Ogden and Jay Landauer and has offices in Connecticut and Chicago.
About Monument Group
Monument Group is a leading, independent private fund placement agent managed by a senior team with significant buy‐side investment heritage. Since its inception in 1994, Monument Group has assisted a range of general partners around the world to raise 83 funds, totaling $93 billion of equity. These clients represent a broad variety of investment strategies including buyouts, debt, distressed, energy and natural resources, growth, infrastructure and real estate. Monument Group has offices in Boston, London, Tokyo and Hong Kong.