Huron Capital Partners has completed the first and final closing of its fourth investment fund, The Huron Fund IV L.P., with $500 million in aggregate commitments. Huron experienced strong demand for the offering, exceeding its original target of $400 million and hitting its hard-cap soon after launching the fundraising process in September 2012.
“We are grateful for the strong support we received from returning and new investors and the confidence they displayed in our seasoned team of investment professionals and operating partners,” said Brian Demkowicz, Managing Partner of Huron.
The Fund 4 investor base includes international and domestic public and corporate pension funds, insurance companies, endowments and foundations, financial institutions, funds-of-funds, and family trusts.
With its latest fund, Huron will continue its operationally-focused, buy-and-build approach to investing in the lower middle-market. The firm focuses on opportunities where it can partner with seasoned executives to acquire fundamentally sound companies and drive significant earnings growth through strategic initiatives, operational improvements, and add-on acquisitions.
Huron Capital Partners invests up to $70 million per transaction in middle market companies that have revenues up to $200 million and EBITDAs of $5 million or more. Sectors of interest include education & training, healthcare, specialty chemicals, specialty packaging, consumer products, home décor, business services, industrial manufacturing, food & beverage, and marketing services. Since its founding in 1999, Huron has acquired or invested in 61 companies with aggregate revenues in excess of $1 billion. Huron Capital currently manages over $1.1 billion in committed equity through four private equity funds, and has offices in Detroit and Toronto (www.huroncapital.com).
© 2013 PEPD • Private Equity’s Leading News Magazine • 1-14-13