Gridiron Closes Third Fund at Hard Cap

Gridiron Closes Third Fund at Hard Cap

gridiron-nf1Gridiron Capital has held a final closing of the firm’s third fund, Gridiron Capital Fund III, LP, at the hard cap of $850 million. Gridiron’s earlier fund, appropriately named Gridiron Capital Fund II, LP, closed with $425 million of capital commitments in August 2012.

Investors in Fund III include a cross section of limited partners, including endowments and foundations, insurance companies, public and private pension funds, fund of funds and high net worth individuals, from North America, Europe, and Asia.

The investment strategy for Fund III will continue the strategy the firm has used since its founding in January 2005: investing in niche manufacturing, service and specialty consumer companies that have EBITDAs from $8 million to $50 million, EBITDA margins of at least 10%, and that are located in the United States and Canada.

“We are excited about the broad and significant support from both our investors in prior funds and new investors coming into Fund III,” said Tom Burger, a co-founder and Managing Partner of the firm. “We are fortunate to have such a high quality group of limited partners and great people to be partners with. We are humbled by the trust they’ve placed in us and we will work diligently and intensely every day to continue to earn their trust and deliver the best returns possible for each of them.”

Gridiron, which is based in New Canaan, CT, raised its first fund in 2007 with $300 million of capital commitments (

ropes-and-gray-nf44Partners Debra Lussier and Paul Van Houten of Ropes & Gray ( were the legal advisors to Gridiron on this fundraise.

© 2016 Private Equity Professional • 10-28-16

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