Yukon Partners has held a final closing of Yukon Capital Partners III LP and associated parallel funds at the hard cap of $559 million in total capital commitments.
Yukon Partners makes subordinated debt and equity investments of $10 million to $50 million in middle market, private equity sponsored business transactions. Since its inception in 2008, Yukon has now raised over $1.2 billion in total capital commitments across its three funds. Fund III will be invested by Yukon’s partner group; Michael Hall, William Dietz, and Michael Furey who combined, have executed more than 81 investments representing over $1.3 billion of invested capital since 2000.
“Since founding Yukon, we have remained focused on our middle market niche and have consistently generated attractive investments across all business cycles,” said William Dietz, Managing Partner of Yukon.
Fund III has already invested $85 million through three transactions since the fund began investing in June 2017. In July, Yukon provided mezzanine debt and made an equity co-investment in Tooling Technology Group, a Fort Loramie, OH-based supplier of tooling used in a variety of material forming processes primarily for the automotive industry. Tooling Technology is a portfolio company GenNx360 Capital Partners; In August, Yukon provided mezzanine debt to back Centre Partners’ acquisition of Golding Farms Foods, a Winston-Salem, NC-based manufacturer of private label, branded, and co-manufactured sauces and condiments; and in September 2017, Yukon provided mezzanine debt to back the acquisition of Practice Insight, a Houston, TX-based provider of revenue cycle management software and services to healthcare practitioners, by an unidentified strategic buyer. Practice Insight had been a portfolio company of Halyard Capital.
“We are pleased to have the opportunity to continue investing on behalf of our loyal and supportive investor base, and excited to work with our new limited partners participating in Fund III. Investors include both domestic and international pension funds, insurance companies, endowments, foundations, consultants, and family offices,” said Michael Hall, Managing Partner of Yukon.
Credit Suisse’s Private Fund Group was an advisor and the placement agent for Fund III. Dorsey Whitney and Schiff Hardin provided legal services.
Yukon Partners is based in Minneapolis (www.yukonpartners.com).
© 2017 Private Equity Professional | November 30, 2017