NextGen Growth Partners Closes Oversubscribed Fund III at $165M Hard Cap, Championing Entrepreneurial Approach
2024年8月15日 - 9:00PM
ビジネスワイヤ(英語)
NextGen Growth Partners ("NGP"), a Chicago-based private
investment firm, has closed its third fund, NextGen Growth Partners
Fund III, LP ("Fund III"), at its $165 million hard cap. Fund III
was oversubscribed at a first and final close, welcoming capital
commitments from new institutional partners alongside continued
support from its existing partners.
Eight years ago, NGP was founded on the belief that the way
businesses are acquired and grown could be transformed. With a
focus on preserving legacy, partnering with supportive investors,
and cultivating a team where culture is as valuable as returns, NGP
has solidified its position as a leader in Entrepreneurship through
Acquisition ("ETA").
"In a challenging fundraising environment, we are incredibly
grateful for the support of both our existing partners and a
diverse group of new limited partners. The strong demand for Fund
III is a testament to the quality of our strategy, culture, and
team," said Brian O'Connor, Founder and Managing Partner. "We
believe that our commitment to a people-oriented, entrepreneurial
approach and proprietary strategy offers a unique value proposition
to sellers and investors in the lower-middle market alike."
Since the close of Fund II, LP, in May 2022, NGP has seen
significant growth, particularly in talent development,
investments, and value creation initiatives to further support its
Entrepreneurs-in-Residence (EIRs) and their thesis-driven,
proprietary search process.
"We're incredibly grateful for the trust and support of our
investors," O'Connor added. "With Fund III, we're well-positioned
to continue our mission of partnering with exceptional
entrepreneurs and driving growth in fundamentally-sound
businesses."
Through Funds I and II, NGP has completed over 20 acquisitions,
with a goal of creating a holistic approach to supporting the
growth and development of flourishing companies. "NGP Fund III will
extend the legacy of what our firm does best – partner with high
potential businesses and pair them with the support of our EIRs and
Value Creation approach," shared Eric Wilson, Principal, Portfolio
Operations.
With Fund III—NGP's largest to date—the firm is poised to
continue its well-established strategy and further its mission of
partnering with talented entrepreneurs to foster innovation and
growth.
Kirkland & Ellis LLP provided NGP with legal counsel, and
Apex Group is serving as the Fund Administrator.
For more information, please contact the team at
admin@nextgengp.com.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240815316628/en/
Mackenzie Hill, mhill@nextgengp.com