funds
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Steadfast Capital Fund III achieves €104 million first close within four months Fund
Name Steadfast Capital
Investors Electra, AXA and F&C
Founding Partner Nick Money-Kyrle
Steadfast Capital, a leading buyout manager focusing primarily on the German lower-mid-market, is pleased to announce the first close of Steadfast Capital Fund III at €104 million.
Investors The successful first close of Steadfast Capital Fund III was supported by its existing investors: Electra, AXA and F&C, as well as the addition of some highly-regarded new institutions including: EIF, Goldman Sachs, IdInvest, Graphite and Swiss Re.
Targets The strategy for Steadfast Capital Fund III will follow the proven investment strategy undertaken for
preceding funds, targeting majority stakes in highly successful and profitable businesses, typically valued between €25-150 million. These are usually highly cash generative with double-digit EBITDA margins and clear growth potential.
People Nick Money-Kyrle, Steadfast Capital GmbH’s and Fynamore Advisers LLP’s founding partner said “We are particularly pleased with the continued support from Steadfast’s existing investors, and in addition with the strong interest from the international investor community. The investment strategy has been proven across market cycles in the Funds’ target markets, as evidenced by the exit performance and strong trading of the existing portfolio.”
Riverside closes micro-cap fund 37% above target Fund
Name
The Riverside Micro-Cap Fund II (RMCF II)
Target $100 Million
Riverside Co-CEO Béla Szigethy Stewart Kohl
Co-Fund Managers Loren Schlachet Ron Sansom
The Riverside Micro-Cap Fund II (RMCF II) has bucked a continued challenging fundraising market to close at $137 million in commitments, 37% above the fund’s target of $100 million.
Investors Many new investors joined the fold alongside existing Riverside Company faithful to take part in its first Small Business Investment Company (SBIC) fund.
Targets RMCF II follows in the footsteps of 2005 vintage RMCF I, which is a top-decile fund per Thomson Venture Economics benchmarks. RMCF II will continue to apply the proven RMCF approach of buying fast-growing companies with under $5 million
in EBITDA. RMCF II will exclusively purchase U.S.-based companies..
People “We love these fast-growing, innovative smaller companies. We want to take these gems into our jewelry shop and design and shine them to a previously unimaginable brilliance,” said Riverside Co-CEO Béla Szigethy. “I can’t say I expected fundraising to be a breeze,
but given the track record of our RMCF team and Riverside’s 23 years of experience, I did not expect to face so many headwinds,” said Riverside Co-CEO Stewart Kohl. The RMCF team is led by Co-Fund Managers
Loren Schlachet and Ron Sansom. Their strong team has helped RMCF not only weather the Global Financial Crisis, but also increasing EBITDA each and every year.
www.finance-monthly.com
OCTOBER 2011
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