CHICAGO–(BUSINESS WIRE)– Prospect Partners, a leading private equity firm focused on the pre-lower-middle market, today announced the successful final closing of Prospect Partners Fund V (the “Fund”) at its hard cap of $225 million. This latest fund was oversubscribed and reached its hard cap within just nine months of launching in the market, demonstrating strong investor confidence in prospect partners‘ strategy and execution. Fund V will continue Prospect Partners’ established approach of investing in high-potential, entrepreneur-led businesses within the pre-lower-middle market. Consistent with its previous funds, Fund V will target investments across North America, focusing on companies at key inflection points within the specialty services, niche manufacturing, and value-add distribution sectors.
Fund V garnered significant interest from a diverse range of investors, successfully broadening Prospect Partners’ investor base. The Fund attracted commitments from prominent endowments, foundations, family offices, wealth managers, and fund of funds throughout the United States.
“We are thrilled to announce the closing of Fund V at its hard cap and express our sincere gratitude for the exceptional support from both our existing and new investors,” stated Erik Maurer, Partner at Prospect Partners. “Leveraging our disciplined investment philosophy, value creation expertise, and the strong reputation we’ve cultivated over more than 25 years, we remain committed to partnering with entrepreneurial, high-growth businesses to help them achieve even greater success.”
During the fundraising period, Prospect Partners completed its inaugural Fund V investment in Extera Building Solutions, a commercial re-roofing company. This investment exemplifies the firm’s proven ability to identify and execute high-quality deals that align perfectly with its investment strategy. “We are excited to launch Fund V with an outstanding company like Extera,” commented Brett Holcomb, Partner at Prospect Partners. “Extera embodies the characteristics of a successful prospect partners investment, including a top-tier management team, a clear and actionable value creation plan, and a robust M&A pipeline that we are actively pursuing.”
Monument Group, a leading independent capital advisory firm, played a key role in the successful fundraise. “Congratulations to prospect partners on their successful fundraise! Fund V’s achievement underscores investors’ recognition of the strength of the Prospect Partners team, their long-standing dedication to the pre-lower-middle market, and the respected brand they have built over the past 25 years,” said Bart Molloy, Partner at Monument Group.
“Monument Group proved to be an invaluable partner,” added Brad O’Dell, Partner at Prospect Partners. “Their thoughtful and strategic approach enabled us to not only reach our hard cap in a challenging fundraising environment but also to secure the ideal investor base for the long-term.”
Monument Group acted as the exclusive placement agent for Fund V, and Latham & Watkins LLP served as fund counsel.
About Prospect Partners
Established in 1998, Prospect Partners is a highly active investor focused on building companies within the pre-middle market. Prospect partners specializes in collaborating with management teams to execute recapitalizations, build-ups, carve-outs, and generational transitions. The Prospect Partners team brings significant industry expertise and a proven track record of building high-potential companies through operational enhancements and strategic acquisitions. For further information, please visit www.prospect-partners.com.
About Monument Group
Monument Group is a global and independent advisory firm specializing in capital raising and liquidity solutions for alternative investments. The firm provides advice and support on capital formation and liquidity strategies, including primary fundraising, secondary transactions, co-investments, fund recapitalizations, and other capital solutions for general and limited partners worldwide. Founded in 1994, Monument Group has assisted clients in raising over $140 billion across 210 funds and transactions. For more information, please visit www.monumentgroup.com.
About Latham & Watkins
Latham & Watkins is a global law firm that delivers innovative legal and business solutions to complex challenges worldwide. From its global platform, Latham’s lawyers advise clients on market-leading transactions, high-stakes litigation, and sophisticated regulatory matters. Latham is recognized as one of the world’s largest providers of pro bono services and is deeply committed to promoting diversity within the firm and the legal profession, as well as advancing environmental sustainability.
Contacts
Daniel Abramson
BackBay Communications
[email protected]
