Granite Creek Capital Partners has announced the close of its $200 million FlexCap II fund with a focus on providing equity and debt capital to lower middle market companies.
With the close of this fund, the Chicago-based private equity firm has a total of more than $400 million of assets under management across its strategies.
For its FlexCap II fund, Granite Creek expects to invest in 15 to 20 companies engaged in manufacturing, business services, healthcare and agribusiness. Granite Creek plays an active role with the leadership of its portfolio companies and serves as both an adviser and a partner. FlexCap II will invest $10 million to $20 million per transaction.
“The closing of FlexCap II is another milestone in Granite Creek’s 14-year history, demonstrating continued confidence by our investors in our ability to invest in companies with compelling, risk-adjusted returns,” Granite Creek Co-Founder and Managing Partner Mark Radzik said in a statement. “In addition to our capital and financial oversight, we bring strategic, operational and business development resources to our portfolio companies that are often inaccessible to the typical smaller business, helping them scale in multiple ways.”
Granite Creek’s prior corporate investment fund (FlexCap I), a top decile performing fund, had $85 million of assets under management. The FlexCap I fund included a diverse portfolio of 19 companies, including: SMS Assist, Symphonix Health Insurance, Weld Racing, Cyalume Technologies, Bio-Engineered Supplements and Nutrition (BSN) and Big Joe Forklifts.
