Sixpoint Partners, a global investment bank serving the middle market, has closed the Huron Flex Equity Fund with USD142 million of total capital commitments.
The Huron Flex Fund, which is the sixth investment vehicle for Huron Capital Partners (Huron Capital) since 1999, easily surpassed its initial target of USD100 million after only seven months in the market. Similar to Huron Capital’s other funds, The Huron Flex Fund’s diversified investor base includes endowments, foundations, multi-manager funds, corporate pensions and family offices. The Huron Flex Fund received strong support from existing Huron Capital investors as well as a number of new LP relationships.
The Huron Flex Fund is the inaugural expansion of Huron Capital’s established and growing investment platform serving the broader lower middle market. Huron Flex Fund expects to leverage the firm’s deep origination, due diligence, and operating resources to source and execute attractive investment opportunities. Huron Flex Fund will make non-control investments to provide customised and flexible solutions to help business owners accomplish a variety of growth and liquidity objectives. As with the other funds managed through the Huron platform, Huron Flex Fund will draw from Huron’s strengths as a value-added partner, using Huron Capital’s broad operational, financial and strategic resources to help businesses grow while allowing some or all of the existing shareholder group to retain its controlling interest. The senior members of the Huron Flex Fund team include Doug Sutton and Charlie Sheridan, who together have a successful 20+ year history of sourcing, closing and managing non-control investments in lower middle market companies.
“We deeply value the tremendous confidence and broad support that our new and existing investors have placed with our experienced investment team. We remain focused on delivering strong returns to our LP base across the platform,” says Brian Demkowicz, Managing Partner of Huron Capital. “We are focused on remaining a strategic solution provider to our limited partners and working with them to identify attractive entry points in the lower middle market. Our goal is to leverage our buy-and-build strategy in partnership with seasoned executives to improve and grow our businesses through strategic initiatives, operational improvements and add-on acquisitions throughout the lower middle market.”
“We are proud to represent Huron Capital and view their expansion into non-control equity as the first step into a broader, measured expansion in the lower middle market,” says Eric Zoller, Founder & Partner at Sixpoint Partners. “The private equity market continues to evolve and Huron Capital remains at the forefront of this evolution. The Huron Flex Fund team is a proven group of investors that fit strategically with Huron Capital’s competitive advantages.”
Larry Smith, Partner at Sixpoint Partners, adds: “Huron Capital’s long track record of success and proven ability to source attractive investment opportunities within the lower middle market make it an ideal partner for investors seeking to broaden their exposure to this segment of the market. Huron Flex Fund is off to a great start and serves as a strong example of how institutional sponsors can thoughtfully leverage their platform and institutional resources for the benefit of their limited partners.”
