Prairie Capital Closes Fund VII With $450m of Committed Capital

Prairie Capital is pleased to announce the successful closing of Prairie Capital VII with total commitments at the hard cap of $450m. Fund VII was significantly oversubscribed, closing less than three months after its official launch in February 2021.

Fund VII received strong support from Prairie’s existing investor base, as well as a select group of new, high quality institutional and high net worth investors. Fund VII included almost $40 million of invested capital from the General Partner and Prairie portfolio company founders, managers, and board members. The Prairie team is very grateful to its loyal existing investor base and humbled by the existing and new investor interest in Fund VII.

Fund VII represents a continuation of Prairie’s proven investment strategy of partnering with talented company founders and management teams to acquire controlling interests in successful, growth-oriented, lower middle market companies in targeted industry subsectors.

Following the closing of Fund VII, Prairie’s long-planned leadership transition became effective. After nearly 25 years, co-founders Steve King and Bryan Daniels transitioned fund management duties to the non-founding partners: Nate Good, Patrick Jensen, Chris Killackey, and Sean McNally. Nate Good, who joined Prairie in 2002, has been elevated to Managing Partner.

King and Daniels will continue as partners and investment committee members for Prairie VII, and retain management responsibility for the remaining portfolio companies in Prairie Capital VI and Prairie Capital V.

Source: Ein Presswire