Capital Partners, Inc. has closed its latest private equity fund, Capital Partners Private Equity Income Fund II, LP (CPII) with total committed capital of $360 million.
“CPII plans to finance its acquisitions with a moderate level of outside debt and substantial equity which results in lower leverage-related risk for portfolio companies,” said Brian Fitzgerald, Founder and Managing Director of Capital Partners. “CPII has already made two platform investments: American Leather, a manufacturer of high-end, custom upholstered furniture, and Derby Fabricating Solutions, a manufacturer of foam and rubber components.”
Capital Partners makes control or substantial minority equity investments in middle-market manufacturing, distribution and service companies. Target companies will be based in North America and have revenues from $20 million to $250 million and EBITDA of $4 million to $25 million. CPII is led by its three Managing Directors – Brian Fitzgerald, Mark Allsteadt, and Robert Tucker. Capital Partners was founded in 1982 and is headquartered in Greenwich, CT (www.capitalpartners.com).
Champlain Advisors (www.champlainadvisors.com) served as lead placement agent for Capital Partners. “CPII is more than double the size of Capital Partners’ prior fund, diversifying the investor base considerably,” said Terry Crikelair, Managing Partner of Champlain Advisors. “The fund was oversubscribed and increased its hard cap to accommodate investor demand.”
© 2014 PEPD • Private Equity’s Leading News Magazine • 1-28-14