Chicago-based PE firm Frontenac, which focuses on lower middle-market companies in the consumer, industrial, and services sectors, has closed its 13th fund, Frontenac XIII Private Capital, with $900m in total committed capital, exceeding its $700m target.
The fund, which was significantly oversubscribed, reached its hard cap with backing from both existing and new limited partners. Investors include endowments, foundations, pension funds, sovereign wealth funds, asset managers, consultants, and family offices across the US and internationally.
In a press statement, Managing Partners Walter Florence, Ron Kuehl, and Michael Langdon, said: “We are incredibly grateful for the enduring support from our existing investors and pleased to welcome a diverse group of new partners. The confidence they’ve placed in our team and strategy is especially meaningful in today’s market.”
Harris Williams Private Capital Advisory advised on the fund’s formation and placement, while Kirkland & Ellis served as legal counsel.
