The Beekman Group has held the final closing of Beekman Investment Partners II at USD100m in equity commitments.
"We are pleased to have raised USD100m in the current environment and to have surpassed our debut fund by over 40 per cent" says John G Troiano, founder and managing partner of The Beekman Group. "We credit our focused strategy, top quartile returns, and experienced investment team for this and appreciate the strong support from our existing limited partners and from our new investors.”
Beekman’s second fund had 90 per cent re-commitment from its first fund investors and includes a group of institutional investors including several family offices, state and government retirement systems, and large financial institutions.
Beekman II will continue the strategy employed by its first fund, investing in lower middle-market services companies with enterprise values ranging from USD15m to USD75m in four focus industry sectors – consumer, healthcare, business and financial services. The firm’s investment team is led by managing partner John G. Troiano, formerly with Onex Corporation and with a 20-year track record in middle market private equity, and by managing directors Andrew Marolda and Andrew Brown.
The Beekman Group’s first fund closed in 2006 with approximately USD70m in commitments and has made over a dozen platform investments and add-on acquisitions.
Beekman II has made two investments to date, and will seek to make six to eight additional platform investments during its investment period.
"The current environment is attractive for identifying unique lower middle market businesses and providing capital for growth and acquisitions. Our success is built on bringing a comprehensive set of resources to help existing management teams further professionalize and expand their companies” says Troiano. “We look forward to continue working with these management teams and growing our businesses together.”
