Housatonic Partners, a private equity investment firm founded in 1994, announced today that it has raised a $325 million fund in a single close, bringing total capital under management to
$1 billion. The oversubscribed new fund is Housatonic Equity Investors V.
Limited partners in the fund are a diverse group of new and existing investors. Several new institutional investors joined numerous limited partners from previous funds, including major financial institutions, foundations and endowments, family offices, as well as high net worth individuals, many of whom are private equity general partners and leading business school faculty members.
“Housatonic has a uniquely disciplined approach to investing and a long track record of helping entrepreneurs build great businesses,” said Jamey Sperans, Managing Director of Private Equity for Morgan Stanley AIP. “We especially appreciate the firm’s long-term perspective to creating value and the deep experience of its Managing Partners – a combination that we believe has helped their portfolios prosper despite an unusually difficult investing climate.”
Housatonic focuses on growth buyouts and recapitalizations of profitable, middle-market service businesses with highly recurring revenue. In 16 years, Housatonic has led investments in more than 60 small to mid-sized companies. The firm anticipates average equity commitments from the new fund of $10 to $25 million.
“We’re gratified to have raised a new fund in a timely fashion given the challenging fundraising environment,” said Barry Reynolds, a Housatonic Managing Director. “Several factors contributed to our success, including a disciplined investment strategy and fund size, a steady investment pace, our ability to perform in both up and down markets, and strong support from existing investors. We’re pleased now to return to finding opportunities for our investors that fit our focus and building great companies over time.”
Two New Investments
In addition to closing the new fund, Housatonic also announced that it has made two new investments from its previous fund: HemaSource, Inc. of Salt Lake City, the leading provider of medical consumables in the plasma and whole blood
collection industries, and Lincoln Peak Holdings LLC of Boston, a partnership formed to coinvest with Lincoln Peak Capital Management, LLC in premier asset management firms.
Housatonic Partners is a private equity investment firm founded in 1994 with $1 billion in capital under management. The firm focuses on growth buyouts and recapitalizations of profitable service businesses with highly recurring revenue. In partnership with exceptional management, Housatonic has led investments in more than 60 small to mid-sized companies.