Stone Arch Capital has held a final close of its third private equity fund, Stone Arch Capital III, LP, with $205 million of capital commitments.
The new fund, which had a target of $175 million, was oversubscribed at its hard cap of $200 million of limited partner commitments and was raised in less than six months.
Stone Arch Capital was founded in 2005 by Charles Lannin and F. Clayton Miller. Prior to forming Stone Arch, Mr. Lannin served as a general partner at Norwest Equity Partners and Mr. Miller was the Managing Partner of Churchill Equity Partners, the private equity arm of Churchill Capital.
Stone Arch Capital makes equity investments from $10 million to $25 million in Midwest-based lower middle-market companies with revenues from $20 million to $150 million and EBITDA greater than $5 million. Transaction sizes are generally within the range of $20 million to $100 million. Sectors of interest include manufacturing and service industries. Stone Arch Capital is headquartered in Minneapolis (www.stonearchcapital.com).
© 2015 PEPD • Private Equity’s Leading News Magazine • 4-1-15
