Prospect Partners, a Chicago, IL-based pre-lower-middle market private equity firm, closed Prospect Partners Fund V, at $225m.
Fund V received interest from a diverse group of new investors, successfully expanding and diversifying Prospect’s investor base. Investors include endowments and foundations, family offices, wealth managers, and fund of funds across the United States.
The fund continues Prospect’s strategy of backing entrepreneurs in high potential pre-lower-middle market businesses. As with prior Prospect vehicles, Fund V invests in North American businesses at inflection points in the specialty services, niche manufacturing, and value-add distribution sectors.
During the fundraise, Prospect completed its first Fund V investment in Extera Building Solutions, a commercial re-roofing business which is the latest example of the firm’s ability to source and execute high-quality deals squarely within its strategy.
Founded in 1998 by Erik Maurer, Brett Holcomb, and Brad O’Dell, Prospect Partners is an active investor and builder of pre-middle market companies. Prospect focuses on partnering with management teams to complete recapitalizations, build-ups, carve-outs, and generational transitions.
FinSMEs
01/10/2024