Capital Partners Closes Third Equity Income Fund At $600M

Dec 15 2017 | 9:30pm ET

Private equity company Capital Partners LLC has raised $600 million in capital commitments for its third equity income fund, hitting its hard cap.

The new fund, named Capital Private Equity Income Fund III, will focus on acquiring small to medium-sized companies in the manufacturing, distribution and service industries, the company said in a statement. 

Fund III plans to finance its acquisitions with only a low-to-moderate level of outside debt, with most of the capital provided by Fund III, sellers and portfolio management teams primarily in the form of equity, the statement continued. Capital Partners became dedicated to this approach in 2004 to decrease leverage-related risks for portfolio companies and increase the ability of management teams to execute on strategic growth plans. 

The new fund was supported by a broad group of limited partners, including insurance companies, public and private pension funds, endowments, foundations and high net worth individuals. Finn Dixon & Herling served as legal counsel and Lazard served as placement agent in the raising of the new vehicle.  

Founded by Brian Fitzgerald in 1982 and based in Norwalk, Connecticut, Capital Partners is a private equity firm focused on acquiring and building manufacturing, value-added distribution, specialty consumer and business service companies predominately in the United States. 

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