Grafine Partners has held an above target closing of its first fund, Grafine Capital I LP, and parallel vehicles with a combined $600 million in capital commitments.
Grafine’s inaugural fund provides anchor limited partner capital and institutional-level support to first-time funds – launched by experienced private equity professionals – in exchange for revenue sharing and access to co-investment opportunities for its limited partners.
Grafine Partners was founded in 2019 by Managing Partner Elizabeth Weymouth and is headquartered in New York City.
“Grafine’s mission is to provide access to differentiated and potentially high returning investment opportunities by investing behind the next generation of talented managers and operating partners and working with them day in and day out to build profitable and scalable firms,” said Ms. Weymouth. “We are grateful for the support of our investors during one of the most challenging fundraising environments in recent history, and for their belief in our team’s ability to deliver alpha through our access to sources of differentiated deal flow, leveraging creative structures that are intentionally designed to align our capital partners and dealmakers to form transparent and long-standing partnerships.”
Grafine takes its name from graphene, a two-dimensional allotrope of carbon known for its remarkable strength, conductivity, and flexibility. Allotropes are different forms of the same element where the atoms are arranged in distinct structures, leading to different physical properties. For example, carbon has several allotropes, including graphite, diamond, and of course graphene.
Fund I, following a series of closings, has already made several direct investments and three limited partner commitments to first-time managers including Ascendant Capital Partners, Stanley Capital Partners, and Newcastle Network.
Los Angeles-headquartered Ascendant Capital Partners (ACP) was founded in 2019 and is a vertically integrated real estate investment, development and operating firm focused on hotel and residential investments. London-based Stanley Capital Partners was founded in 2019 and is a control and minority investor in mid-market companies with EBITDA from $25 million to $150 million that operate in the healthcare, technology and resource efficiency sectors. The third limited partner commitment was to Boston-based Newcastle Network, an investor in lower middle market consumer-focused products or services companies. Newcastle invests from $25 million to $75 million of equity in opportunities that provide significant influence or control. Newcastle Network was founded in 2020.
Grafine recently launched a second strategy focused on co-investments, which will invest in a portfolio of vetted co-investment opportunities sponsored by emerging private equity managers.
© 2024 Private Equity Professional | May 16, 2024
