The Beekman Group has held the first and final closing of Beekman Investment Partners III, LP (Beekman III) at USD230 million in equity commitments.
“We are very pleased by the strong investor interest and a single close at our hard cap of USD230 million after just three months of fund raising, says John G Troiano of The Beekman Group.”
Beekman III will continue the successful strategy employed by its first two funds, investing in lower middle-market services companies with enterprise values ranging from USD15 million to USD75 million in three focus industry sectors – consumer, healthcare and business services. Beekman takes an active role in working with its management teams and guiding its portfolio companies’ growth initiatives and improving operations, in conjunction with a team of seasoned operating executives, who are actively involved in industry analysis, investment sourcing, diligence and company oversight. The Firm’s investment team is led by Founder and Managing Partner, John G. Troiano, a former partner at Onex Corporation, and by Managing Directors, Andrew Marolda and Andrew Brown.
"We are very pleased by the strong investor interest and a single close at our hard cap of USD230 million after just three months of fund raising, says John G Troiano of The Beekman Group. "We have remained focused on investing in great companies within our core strategy while continuing to generate top quartile returns for our limited partners over the past 10 years. We appreciate the strong support from our existing and new limited partners.” I
nvestor demand for Beekman III was more than double the hard cap amount of USD230 million and limited partners include a highly regarded group of institutional investors including several endowments, family offices, global asset management firms, insurance companies and pension funds. The General Partner, along with certain of its affiliates and associates, also committed approximately 15% of total commitments to Beekman III.
The Beekman Group’s previous fund, Beekman Investment Partners II, held its initial closing in 2011 and final closing in December 2012 with USD100 million in commitments and has made seven platform investments. Beekman III will continue to follow its successful strategy of making control investments in lower middle-market service companies and creating value through operational improvements as well as accelerating revenue and EBITDA growth.
Sparring Partners served as exclusive financial advisor and placement agent to The Beekman Group for Beekman III and well as Beekman II. Sparring is an SEC registered broker-dealer and member of FINRA and has been the placement agent for top buyout, growth equity and venture firms. Sparring Partners also assist clients in equity and debt capital raising and sell-side M&A advisory. White & Case LLP acted as legal advisor to Beekman III.
