Gryphon Hits Fund V Hard Cap

Gryphon Investors has held a final closing of Gryphon Partners V LP at its hard cap of $2.1 billion. The new fund was oversubscribed and exceeded its original target of $1.5 billion.

Gryphon V’s investors include domestic and international pension funds, insurance companies, asset managers, endowments, foundations, and high net worth families. Approximately 38% of Gryphon V’s commitments are from limited partners based outside the United States.

“As in the past, we are very grateful for the interest we have received from our existing and new partners,” said R. David Andrews, founder and CEO of Gryphon Investors. “The encouragement and support by our longstanding core partners of Gryphon’s model of integrating deal and operating professionals to identify, acquire, and build top-tier companies, while creating attractive risk-adjusted returns for our investors, has fueled our success.”

Gryphon V is targeting control or shared-control equity investments of approximately $100 million to $300 million in companies with EBITDA of up to $50 million. Sectors of interest include business services, consumer products and services, healthcare, industrial growth, and software. The new fund has already invested half of its committed capital in six platforms:

  • LEARN Behavioral, a Baltimore, MD-based provider of behavioral health treatment services for children with autism and other special needs, acquired in March 2019 (www.learnbehavioral.com);
  • Milani Cosmetics, a Vernon, CA-based “masstige” beauty company that markets its face, lip and eye products under the Milani and Jordana brands, acquired in June 2018. Masstige is a marketing term and is a portmanteau of the words mass and prestige and has been described as “prestige for the masses” (www.milanicosmetics.com);
  • RegEd, a Morrisville, NC-based SaaS provider of governance, risk, and compliance services to the financial sector, acquired in December 2018 (www.reged.com);
  • RoC Skincare, a New York-based anti-wrinkle and anti-aging skincare brand, acquired in December 2018 (www.rocskincare.com);
  • Shermco Industries, an Irving, TX-based provider of testing, maintenance, and repair services for electrical infrastructure, acquired in June 2018 (www.shermco.com);
  • Transportation Insight, a Hickory, NC-based provider of non-asset logistics and freight brokerage services, acquired in August 2018 (www.transportationinsight.com).

“We are pleased to have reached our fundraising goal, while also completing six new platform investments for Gryphon V during the first year of the fund’s activation, resulting in over half of its capital committed to attractive, recession-resistant companies,” said Nick Orum, co-founder and president of Gryphon Investors. “In addition to the substantial and fast Gryphon V commitments made by our core partners, these achievements were made possible by the hard work of our uniquely-integrated team of Gryphon professionals, along with our talented, relevant, and actively-engaged executive advisors.”

Gryphon closed its fourth private equity buyout fund, Gryphon Partners IV LP, in November 2016 at $1.1 billion, and raised a $100 million captive mezzanine fund, Gryphon Mezzanine Partners LP, in August 2017. The firm is based in San Francisco (www.gryphoninvestors.com).

© 2019 Private Equity Professional | July 2, 2019

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