TZP Group has held a final closing of TZP Capital Partners II, LP with $370 million in capital commitments. The new fund completed fundraising in just nine months and was oversubscribed from its initial $300 million target.
TZP II’s limited partners consist of existing fund one investors and new investors including sovereign wealth funds, pension funds, endowments, fund of funds, family offices, and financial institutions.
“We are thankful for the tremendous level of support we received from our fund one investors and are thrilled at the addition of such a prestigious group of new investors in our second fund,” said Sam Katz, Managing Partner and Co-Founder. “Our fundraising success validates the comparative advantage of our partner of choice investment strategy and reflects our teams’ ability to drive strong returns to the limited partners in our first fund.”
TZP II, like the firm’s first fund, will make control investments of between $20 million and $50 million in companies with enterprise values between $50 million and $250 million. Sectors of interest include franchising, outsourced business and IT services, marketing and media services, travel and hospitality services, real estate services and specialty finance. Together with Sam Katz, TZP is led by Partners, Vlad Gutin and Dan Galpern, as well as eleven other investment professionals from offices in New York and Seattle (www.tzpgroup.com).
Robert Blaustein of Kirkland & Ellis served as legal counsel in the formation of the fund.
© 2013 PEPD • Private Equity’s Leading News Magazine • 8-12-13