Greyrock Closes Fund IV
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Greyrock Closes Fund IV

Greyrock Capital Group has held a final closing of its fourth fund, GCG Investors IV, LP, at $275 million. The new fund was oversubscribed and had an original target of $200 million.

Greyrock provides subordinated debt and equity in support of buyouts, recapitalizations and growth capital for lower middle market companies that have EBITDAs between $3 and $30 million. The firm has offices in Berkeley, CA; Chicago, IL; and Wilton, CT (www.greyrockcapitalgroup.com).

As a result of the success of its prior funds, Greyrock received strong support from both existing and new limited partners. The fund’s investor group is comprised of a mix of insurance companies, university endowments, pension plans and high net worth individuals.

Fundraising began in the fall of 2016 and New Canaan, CT-based placement agent CrossBay Capital Partners (www.crossbaycapital.com) assisted Greyrock in raising the new fund.

Greyrock was formed in 2002 as an SBIC and raised its first fund with $72 million of private capital. The firm’s founders previously led the middle-market corporate finance business of Bank of America’s commercial finance division. Over a twenty-five year plus period they have invested subordinated debt and equity in over 120 companies – including with more than 50 private equity sponsors – in a range of industries including manufacturing, business services, consumer wholesale, building materials, and industrial equipment.

© 2017 Private Equity Professional | March 1, 2017

 

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