Main Post Closes Sophomore Fund

Main Post Partners has held a final closing of its second fund, Main Post Growth Capital II LP (Fund II), with $700 million of capital commitments. The new fund was oversubscribed and closed at its hard cap less than three months after the launch of fundraising.

Main Post makes both control and non-control investments in middle market growth companies in the consumer, business services and industrial growth sectors. The firm was founded in April 2014 by managing partners Sean Honey and Jeffrey Mills, both former partners at Weston Presidio. Main Post is headquartered in San Francisco (www.mainpostpartners.com).

“Fund II is an important milestone for our firm and we are very appreciative to have substantial support from our existing investors, as well as a number of new highly-regarded LPs who have chosen to partner with us,” said Mr. Honey. “We are excited about the Fund II’s prospects and the opportunity to continue our strategy of partnering with outstanding entrepreneurial and family-owned businesses and helping them grow into industry leaders.  With over $1 billion of assets under management, we are committed to building a leading growth equity brand and a strong long-term track record within the consumer value chain.”

Main Post’s first fund closed in March 2016 with $400 million of limited partner capital commitments, well in excess of its initial target of $250 million.

“We are nearing full deployment of Fund I and have assembled an impressive portfolio of disruptive and dynamic businesses and brands,” said Mr. Mills. “We have partnered with enthusiast experience brands KUIU and EagleRider, value chain platforms Fortis Solutions Group and ARCH Global Precision, and passionate consumer brands, including Chuze Fitness, Milk Makeup, Nulo Pet Food and Viva Chicken.  With our new fund we will continue to be highly focused on building our team and capabilities to deliver on our commitments to our managers and investors.”

M2O Private Fund Advisors (www.m2ollc.com) was the placement agent for this fundraise and Ropes & Gray (www.ropesgray.com) provided legal services.

© 2018 Private Equity Professional | November 27, 2018

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