Sixpoint Partners, a leading global investment bank serving the middle market, today announced the successful closing of The Huron Fund V L.P. with $550 million of total limited partner capital commitments. The Fund, which is the sixth investment vehicle for Detroit-based private equity firm Huron Capital Partners, closed at its hard cap in excess of its $500 million target.
After receiving commitments from several top-tier investors, including endowments, foundations, multi-manager funds, public pensions, corporate pensions, corporate pensions, and family offices, the Fund closed after three months of marketing and was oversubscribed with over $1 billion in demand.
Like its predecessor, The Huron Fund IV L.P., which also closed above its target at $500 million of capital commitments in 2013, Fund V will seek to utilize Huron’s operationally-focused, buy-and-build approach to identify and acquire fundamentally-sound companies and build them into leaders. The Fund will seek control transactions in the lower middle market with valuations generally under $200 million, and will focus on committing a total of $20 million to $70 million per transaction. The firm is led by its senior partners, Brian Demkowicz, Michael Beauregard, John Higgins, and Peter Mogk.
“We deeply value the tremendous confidence and broad support that our new and existing investors have placed with our experienced investment team and remain focused on delivering strong returns to our LP base,” says Demkowicz, managing partner at Huron Capital Partners. “We look forward to deploying our buy-and-build strategy in partnership with seasoned executives to improve and grow our businesses through strategic initiatives, operational improvements, and add-on acquisitions.”
Founded in 1999, Huron Capital Partners has raised more than $1.7 billion in capital through six committed private equity funds and invested in 130 companies. Their buy-and-build investment model includes equity recapitalizations, family succession transactions, market-entry strategies, corporate carve-outs, and management buyouts of companies having revenues up to $200 million.