Platte River Equity has held a final close on its third private equity investment fund, Platte River Equity III, L.P. (“Fund III”). Platte River launched fundraising in June of this year with an initial target of $350 million and closed Fund III at its hard cap of $405 million.
“We are pleased with the continued support from our existing investors and the strong interest from additional leading institutional limited partners,” said Lanny Martin, Platte River Founder and Managing Director. “The long-term growth trends for each of our industries of focus remain compelling, and we believe our operationally-oriented approach to creating value will continue to deliver attractive returns for our investors in Fund III and beyond.”
Fund III’s investor base is comprised of endowments, pension funds, private foundations, funds of funds, family offices and high net worth individuals. The firm’s principals are the largest collective investor in each of Platte River’s funds, having committed in excess of $100 million since the firm’s inception.
Platte River Equity makes equity investments of $10 million to $50 million in lower middle market companies with enterprise values generally between $20 million and $250 million. The firm focuses on investing in the aerospace and transportation; energy and industrial services; and chemicals, metals and industrial minerals sectors. Platte River Equity manages funds with committed capital of approximately $700 million and is based in Denver (www.platteriverequity.com).
Capstone Partners served Platte River as the exclusive placement agent for Fund III and Bartlit Beck Herman Palenchar & Scott provided legal counsel.
© 2012 PEPD • Private Equity’s Leading News Magazine • 12-6-12
