Private equity firm Capital Partners Inc. has closed its latest fund with $360 million in committed capital.
The Greenwich, Conn.-based firm has already tapped the new fund for two investments, American Leather, a manufacturer of high-end, upholstered furniture, and Derby Fabricating Solutions, a manufacturer of foam and rubber components.
Capital Partners says the fund is more than double the size its debut fund, which counts Lone Star beef Processors LP of San Angelo, Texas and Weaver Leather of Mt. Hope, Ohio among its portfolio companies.
According to a statement from Capital managing director Brian Fitzgerald, Capital Partners Private Equity Income Fund II LP, or CP II, will finance acquisitions with a “moderate level of outside debt and substantial equity” as a means to minimize leverage-related risk for portfolio companies. ”
In addition to Fitzgerald, fellow managing directors Mark Allsteadtand and Robert Tucker will also oversee the fund.
Champlain Advisors served as lead placement agent, while law firm Finn Dixon & Herling LLP acted as legal counsel.
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