Kian Capital, a provider of equity capital and subordinated debt, has held a final hard cap closing of KMP II LP with total capital of $250 million.
Fund II will continue the strategy of Kian’s first fund by making control and non-control investments in lower middle-market companies, often as the first institutional capital provider to closely held businesses. The new fund has the flexibility to participate in all forms of junior capital, including common stock, preferred equity and subordinated debt.
“The successful closing of our second fund is an important milestone in the progression of our firm. We are privileged to have significant incumbent investor support, with many large limited partners increasing their commitments, and are excited to bring in several new well-respected institutional investors,” said Kevin McCarthy, Co-Founder and Partner of Kian Capital. “We believe our diverse investor base of leading institutional investors, endowments, pension funds, commercial banks and distinguished high net worth individuals provides a platform to grow as we look to continue providing growth-oriented capital to leading lower middle-market businesses,”
Kian Capital invests from $7 million to $30 million of equity and subordinated debt in companies that have revenues of $15 million to $150 million and EBITDA of $2 million to $15 million. Sectors of interest include business services, value-added distribution, healthcare services, consumer services and products, and niche manufacturing. The firm has offices in Charlotte and Atlanta (www.kiancapital.com).
“We have found the lower middle-market to be a very attractive place to deploy capital and are excited to continue serving that market with the investments made out of our second fund,” said Rick Cravey, Co-Founder and Partner of Kian Capital. “Our flexible investment structures allow us to be unique partners for business owners and management teams looking to complete a variety of transactions, including change-of-control and non-change-of-control situations. We desire to bring more than just capital to these situations by forging strategic partnerships with management to help drive growth and create enterprise value.”
With the closing of the Fund II, Kian Capital now has over $400 million of capital under management.
© 2018 Private Equity Professional | March 21, 2018