Quickly following the close earlier this month of its fifth fund, Arbor Investments V LP (Arbor V), with $1.5 billion of outside capital, Arbor has announced three new partners and the expansion of the firm’s New York City office.
The three new partners – all based in Chicago – are J. David Foster, Jason Booth, and Alison Miller.
“We’re thrilled to recognize the continued contributions of Dave, Jason, and Alison,” said Carl Allegretti, Arbor’s president. “Each individual demonstrates Arbor’s core values and brings diverse backgrounds, experiences, and innovative thinking to our firm and portfolio companies. Their promotion to Partner is a testament to their impact and highlights the criticality of the Functional Discipline Team in driving our exceptional returns.”
Mr. Foster joined Arbor in 2001 and serves as the firm’s Chief Financial Officer, responsible for fund financial operations, transaction support and portfolio company oversight. Earlier in his career, he worked for Arthur Andersen and he has his undergraduate degree in accounting from Indiana University.
Mr. Booth joined Arbor in 2013 as its general counsel and is responsible for all aspects of Arbor’s legal operations, including transaction execution, portfolio company oversight, risk management and regulatory compliance. Prior to Arbor, he was focused on private equity fund and portfolio company representation as a partner at DLA Piper and Winston & Strawn. Mr. Booth has his law degree from Harvard and his undergraduate degree from Bradley.
Ms. Miller joined Arbor in 2018 as its chief marketing officer and is responsible for branding and marketing at Arbor portfolio companies and the firm. Prior to joining Arbor, Ms. Miller was the vice president of marketing for the Chicago Cubs and previously held various brand manager roles at General Mills. Ms. Miller has her MBA from Harvard and her undergraduate degree from the University of Michigan.
Arbor invests from $100 million to $250 million of equity per transaction in food, beverage, and related companies. Since founding in 1999, the firm has acquired or invested in over 80 North America-based companies with a multiple on invested capital of 5.1x and an internal rate of return of 37%.
Arbor is headquartered in Chicago and opened an office in New York City in 2016. Arbor has just announced that it is expanding its New York office with a relocation near Central Park at 712 Fifth Avenue.