Spire Capital Partners has held a closing of its third investment fund, Spire Capital Partners III, L.P, at $100 million. The target for the new fund is $375 million. Spire Capital’s earlier fund, Spire Capital Partners II, L.P, had $320 million of capital commitments and was raised in 2008.
With this first close, Spire is now actively seeking investments for its new fund. Spire invests from $15 million to $40 million in companies with revenues of at least $10 million and EBITDAs of $5 million. Sectors of interest include business services, information services, media, education and communications.
Spire Capital Partners is led by partners Andy Armstrong, Bruce Hernandez, David Schaible and Sean White. The firm was founded in 2000 and is based in New York with an additional office in West Conshohocken, PA (www.spirecapital.com).
© 2013 PEPD • Private Equity’s Leading News Magazine • 5-16-13