Summer Street Capital Partners has held the final closing of its third fund with aggregate capital commitments of approximately $280 million. The fundraise exceeded Summer Street’s $250 million target and represents a nearly 50 percent increase from the committed capital of Summer Street’s second investment fund.
“We are pleased to announce the final close of Summer Street Capital III, L.P. We appreciate the confidence and support received from our new and returning limited partners,” said Michael McQueeney, a Managing Partner and Co-Founder of Summer Street. “We look forward to building lasting relationships with our limited partners, while driving growth within our portfolio to provide attractive returns.”
Summer Street Capital Partners has approximately $550 million of committed capital focused on investing in small-market companies. Equity investments typically range from $15 million to $50 million in companies with annual revenues of less than $200 million. The firm invests in a range of industries but has particular interest in education, environmental services, healthcare and niche manufacturing. Summer Street’s investment team is complimented by the firm’s operating partners who are involved in building value in the firm’s portfolio companies. Summer Street was founded in 1999 and is based in Buffalo (www.summerstreetcapital.com).
© 2013 PEPD • Private Equity’s Leading News Magazine • 2-11-13