Tower Arch Capital has closed its debut private equity fund at an expanded hard cap of USD272 million.
The fund was substantially oversubscribed relative to its target of USD175 million.
Initially backed by CEOs and management team members from prior investments, Tower Arch's investor base also comprises a mix of premier institutions, including foundations, private pension plans, insurance companies, funds of funds, and family offices. The firm focuses on control investments in founder and family-owned businesses in the lower-middle market.
"We are thrilled with the reception we received during our fundraising efforts," says David Topham, a partner at the firm. "This successful fund raise is a testament to the quality of our team and, more importantly, represents a recognition of the opportunity for Tower Arch to create significant value by partnering with high-calibre business owners in the lower-middle market."
Tower Arch invests across the US and targets companies operating in the business services, industrial, energy services, and specialty manufacturing sectors.
