KarpReilly, a consumer-focused lower middle market private equity firm, has held the final closing of KarpReilly Capital Partners II (KRCP II) with total capital commitments of approximately USD210m.
In conjunction with the closing of this second fund, KarpReilly also closed KarpReilly Co-Investment Fund II, with approximately USD150m of additional capital.
The co-investment fund provides KarpReilly access to additional equity capital to pursue larger investments, when appropriate, and is funded by KarpReilly’s limited partners.
KarpReilly’s new fund will pursue the same strategy as its first fund, raised in 2008 – investing in consumer growth companies at the lower end of the middle market, providing not just capital and financial expertise, but strategic board level advice and stewardship to help portfolio companies execute on their long term growth plans.
KRCP II, which launched officially in April 2012, was heavily subscribed by existing investors and also received commitments from a number of new limited partners, resulting in a well-diversified investor base.
To date, KRCP II has already made two noteworthy investments in high-growth consumer businesses. These are:
• EbLens – The New England-based retailer of urban footwear and apparel with 36 units in Connecticut, Massachusetts, Rhode Island and New York; and
• Sprinkles – The first bakery in the US to focus exclusively on cupcakes.
