Crossplane Capital Closes Fund II above Its $325m Target

Jul 13, 2022 | News

Crossplane Capital is pleased to announce the first and final closing of its second private equity investment fund, Crossplane Capital Fund II, above its $325m target.

With the closing of Fund II, Crossplane has raised over $730m since its founding in 2018, including co-investment vehicles. Fund II will continue to target lower middle market industrial companies that are family and founder owned and seeking an operational and financial partner or are companies going through a complex situation such as a carve-out or a restructuring.

“We are grateful and humbled by the significant interest from existing and new investors in Crossplane, which allowed us to raise Fund II in three months,” said Crossplane Managing Partner, Brian Hegi. “Given our focus on the lower middle market, we limited the size of Fund II, which is made up of our existing investors and a select number of new investors that have been close to our firm since our founding.”

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Since the first closing of Crossplane’s inaugural fund in July 2019, Crossplane has closed six platform investments and 20 add-on acquisitions in its target sectors of industrial business services, value added distribution and niche manufacturing.

“Crossplane has built a brand for being a value-added financial and operational partner to families, founders and management teams that seek transformational growth,” said Crossplane Managing Partner, Ben Eakes. “Through Fund II, we look forward to establishing new management partnerships where we can leverage our operational and strategic toolkits to create step function improvements in financial and operational performance.”

Akin Gump Strauss Hauer & Feld acted as fund counsel for Crossplane.

Source: PR Newswire

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