Huron Capital Partners has closed the Huron Fund V with USD550 million of total limited partner capital commitments.
The fund, which is Huron Capital Partners’ sixth investment vehicle, closed at its hard cap and in excess of its USD500 million target.
Receiving commitments from a number of top-tier investors, including endowments, foundations, multi-manager funds, public pensions, corporate pensions and family offices, the fund closed after three months of marketing and was oversubscribed with over USD1 billion of demand.
Like its predecessor, Huron Fund IV, which also closed above its target at USD500 million of capital commitments in 2013, Fund V will seek to use 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 USD200 million and will focus on committing a total of USD20 million to USD70 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. “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.”
