Graycliff Hits Fund V Hardcap

Graycliff Partners has closed the firm’s fifth lower middle market private equity fund, Graycliff Private Equity Partners V LP (Fund V).

The firm’s new fund was oversubscribed and closed at its hard cap of $600 million in limited partner commitments in a single closing and included significant additional capital commitments from Graycliff’s partners and employees. New York City-based Graycliff was formed in December 2011 by the former investment team of HSBC Capital.

The raising of Fund V was completed in less than four months with backing from both existing and new investors including pension funds, endowments, insurance companies, and family offices.

“We are extremely pleased with the outcome of this fundraise and want to thank all of our limited partners for their overwhelming support,” said Andrew Trigg, the managing partner of Graycliff.

Graycliff invests from $10 million to $50 million of control equity in companies with revenues of $10 million to $200 million and EBITDA of $4 million to $20 million. Sectors of interest include niche manufacturing, value-added distribution, and industrial services. Fund V has not yet closed on any new investments.

The newly formed Private Capital Advisory group at William Blair & Company was engaged by Graycliff as its advisor and placement agent for this fundraise, and Weil, Gotshal & Manges provided legal services.

© 2023 Private Equity Professional | October 19, 2023