Frontenac, a Chicago-based private equity firm, has closed its 12th fund, consisting of USD520 million of limited partner commitments.
The fundraise for Frontenac XII was significantly oversubscribed, exceeding its target of USD425 million based on strong support from existing limited partners and the addition of several new investors including endowments, foundations, multi-manager funds, consultants, pension funds and family offices.
Frontenac focuses on lower middle market buyout transactions in the consumer, industrial, and services industries. Through its proactive, thesis-driven and executive-centric approach – known as CEO1ST investing – the firm seeks to identify business leaders and business owners who want a partner committed to building great businesses and accelerating meaningful value.
Frontenac XII will remain focused on the same investment disciplines and value-creation strategies deployed in previous funds, Frontenac XI and Frontenac X, and will be led by the same investment committee that guides those funds, which includes Paul Carbery, Walter Florence, Ron Kuehl, Michael Langdon and Betsy Williamson.
