Aldine Beats Target on Fund III

Aldine Capital Partners has held a final closing of its third fund, Aldine Capital Fund III LP, with total capital of $240 million. The new fund was significantly oversubscribed and had an initial target of $200 million.

Limited partners in Fund III include financial institutions, university endowments, fund of funds, family offices, and high net worth individuals.

As with the firm’s earlier funds, Aldine will invest from $4 million to $20 million of subordinated debt and equity in companies with a minimum of $10 million in revenue and $2 million in EBITDA. Aldine typically invests alongside independent sponsors, private equity funds, family offices, and management teams.

The firm has not yet closed any Fund III investments, but it expects several transactions to close within the next thirty days.

Earlier this year, Aldine completed its last Fund II investments. In February it provided subordinated debt and equity to back CID Capital’s buy of Corvette America (www.corvetteamerica.com), a Reedsville, PA-based manufacturer, distributor, and online seller of Corvette and Mustang aftermarket products, from Restoration Parts Unlimited, a portfolio company of Dubin Clark & Company; and in January, Aldine invested subordinated debt and equity to back Corridor Capital’s buy of FMT Solutions (www.fmtsolutions.com), a Lake Oswego, OR-based provider of education courses and marketing services to the retirement planning and wealth management services market.

Since its founding in 2006, the firm has made 48 investments and now, with the closing of Fund III, manages over $500 million of committed capital across its three junior capital funds.

Aldine Capital Partners is led by its Managing Partner Michael Revord, and Partners Bert Brahm and Steve Groya. The firm is headquartered in Chicago (www.aldinecapital.com).

© 2019 Private Equity Professional | June 10, 2019

Print Friendly, PDF & Email

Related Articles

With New Fund, Edgewater Adds Biz Development Pro Edgewater Capital Partners has added Jason Burmer to its team as vice president of business development. Mr. Burmer will spearhead Edgewater’s busi...
Advent Hits Fund IX Hard Cap Advent International has completed fundraising for Advent International GPE IX LP at its hard cap of $17.5 billion. The new fund was raised in only si...
Westcott Forms Private Equity Firm Westcott LLC, the investment office of the Westcott family, has formed Westcott Investment Group, a new lower middle market private equity firm. We...
Diversis Closes First Fund Diversis Capital Management has held a final closing of its inaugural fund, Diversis Capital Partners I LP, at its hard cap of $255 million. The new f...
Cohere Capital Launched in Boston Cohere Capital, a new growth-focused private equity firm, has been launched in Boston by Nik Shah and Daniel Gedney. Cohere Capital makes majority ...
Investcorp to Acquire Mercury Mercury Capital Advisors Group, a capital raising and investment advisory firm, has agreed to be acquired by alternative investment giant Investcorp. ...