 |
 |
 |
 |
 |
 |
November 1, 2004
Huron Capital Launches $150 Million Private Equity Fund
First Closing Held with Over $90 Million in Commitments
Detroit, MI – November 1, 2004 // Huron Capital announced today that it has successfully launched its second private equity effort, The Huron Fund II L.P., with an anticipated size of at least $150 million. According to Brian Demkowicz, a principal at the firm, over $90 million in commitments have already been secured through a first closing and the firm expects to wrap up its fundraising efforts early next year.
On the success of their fundraising efforts, Mr. Demkowicz commented that “our first private equity fund has performed very well, allowing us to get to a significant first closing on Fund II relatively quickly”. Mr. Demkowicz stated that Huron has generated a realized gross annual rate of return approaching 50% and has returned over 75% of total called capital to its limited partners.
Huron has also been active on the deal making front, recently committing $20 million to two transactions and successfully realizing strong investment gains from two of its portfolio companies. Mr. Demkowicz said Huron is currently in the process of closing several transactions and expects to begin investing Fund II capital by the end of the year.
About Huron Capital Partners LLC
Huron Capital is one of the leading private equity firms investing in lower middle-market companies. The firm typically invests between $5 million and $20 million in equity to sponsor management buyouts, recapitalizations, and corporate spin-offs of well-positioned companies having revenues up to $200 million. Through its operational approach, Huron’s strategy is to partner with strong management teams at niche manufacturing, specialty service, and value-added distribution companies that can be built through acquisition and organic growth.
For Further Information, Contact:
Brian A. Demkowicz, Managing Partner
(313) 496-1054 | bdemkowicz@huroncapital.com