New York private equity firm Staple Street Capital has closed a fund with $265 million in commitments.
The fund, Staple Street Capital II LP, includes investments from endowments, foundations, insurance companies, pension funds, family offices and funds of funds. Staple Street focuses on buying middle market companies that are orphaned corporate divisions, undersized public companies, or private companies that need operational or balance sheet restructuring.
The firm generally buys North American companies with between $50 million and $500 million in revenue. Staple Street's investments include amusement park owner Six Flags Entertainment Corp., Ironline Compression, a gas services company, and Aaroma Holdings, which distributes fragrances.
UBS Securities LLC acted as placement agent, and Kirkland & Ellis LLP provided legal counsel for the fund.
Several other private equity firms have closed funds recently, including TPG Growth, which announced a $3 billion fund close April 27, and Sterling Partners, which closed a $200 million education-focused fund, also in April.