– Frontenac, a Chicago-based private equity firm, closed its 13th fund, Frontenac XIII Private Capital L.P., with $900 million of committed capital.
– The fund exceeded its initial $700 million target and reached its hard cap, significantly oversubscribed.
– Previous funds include Frontenac XII (2022, $520M), XI (2018, $325M), and X (2014, $250M).
– Strong support came from existing investors and a diverse group of new limited partners, including endowments, pension funds, sovereign wealth funds, asset managers, consultants, and family offices.
– Managing Partners Walter Florence, Ron Kuehl, and Michael Langdon expressed gratitude for investor confidence in the firm’s approach and welcomed new LPs despite challenges in the broader fundraising market.
– Frontenac leverages its CEO1ST® approach to combine capital, operating talent, and value creation strategies in lower middle market buyouts across consumer, industrial, and services sectors.
– The firm’s Portfolio Resources Group provides specialized post-closing support in strategy, finance, talent, operations, and technology.
– Frontenac XIII will continue to focus on its proven sectors and strategies for growth and value creation.
– Harris Williams Private Capital Advisory Ltd. acted as advisor, and Kirkland & Ellis served as legal counsel.
