Union Closes on $200 Million
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Union Closes on $200 Million

Union Capital Associates, a lower middle-market private equity firm, has closed its latest fund, Union Capital Equity Partners II, LP, at its hard cap of $200 million.  Limited partners include endowments, foundations, pension funds, financial institutions and family offices.

The new fund invests $10 million to $40 million in equity in US-based founder-owned businesses that have $20 million to $200 million in revenue and $5 million to $20 million in EBITDA. Union Capital is typically the first institutional investor in the company. Sectors of interest include specialty manufacturing, business process outsourcing, food manufacturing, marketing services, franchised restaurants, and unusual businesses existing in defensible niches.

“This rewarding fundraising underscores our investors’ enthusiasm for our investment approach, our disciplined focus on the lower middle market and the strength of our team.  We look forward to investing Fund II on behalf of our investors,” said Reis Alfond, Managing Partner.

In addition to Mr. Alfond, the other managing partners of Union Capital are Bill Ogden and Jay Landauer. The firm has offices in Greenwich, CT and Chicago (www.unioncapitalcorp.com).

Monument Group was the placement agent for this fundraise. “Monument Group was privileged to work with Union Capital on this very successful fundraise. The diversified investor interest is a testament to the Union Capital team’s breadth of experience and their strong track record, achieved over more than a decade of working together,” said Alicia Cooney, Managing Director at Monument Group. Monument Group was founded in 1994 and has offices in Boston, Hong Kong, London and Tokyo (www.monumentgroup.com).

Proskauer Rose provided legal services to Union Capital on the Fund II capital raise.

© 2017 Private Equity Professional | July 14, 2017

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