Private equity firm Huntsman Gay Global Capital has completed the final closing of its first fund with total capital commitments in excess of USD1.1bn.
Private equity firm Huntsman Gay Global Capital has completed the final closing of its first fund with total capital commitments in excess of USD1.1bn.
Huntsman Gay Global Capital was co-founded by Robert C. Gay, a former managing director of Bain Capital, and Jon M. Huntsman (pictured), a leading industrialist. It will focus on middle market leveraged buyouts and growth equity investments.
Gay will serve as president and chief executive and Huntsman will serve as chairman.
‘We are very pleased to have completed a successful first fundraising effort, exceeding our target of USD1bn,’ says Huntsman. ‘We believe that the middle market-where funds have historically enjoyed higher returns than mega funds-is the right place for us to concentrate in successfully deploying the fund.’
‘We look forward to applying our vision and experience to the middle market, bringing together best practices from bulge-bracket private equity and the strategic perspective of global corporations,’ says Gay. ‘To do this, we have assembled a diverse team whose skills and knowledge we will leverage in partnering with management teams to accelerate their growth and redefine the terms of success.’
Investors include a mix of institutions, and public pension investors, family offices and high-net worth individuals, including Calpers. Huntsman Gay partners and professionals are also significant personal investors in the fund.
Huntsman Gay will target middle-market companies with USD25m to USD50m in Ebitda across industries including manufacturing, industrials, consumer products, technology, business/financial services, chemicals, infrastructure and healthcare. The firm also expects to make select investments in companies outside of this range when the opportunity is right.
The firm has already completed one investment since the fund’s inception, acquiring Turner Bros. Holdings, an energy services business providing highly-engineered lifting and transportation solutions primarily to the petrochemical and wind energy markets.
