Castanea Partners Announces Launch of New Private Equity Fund.NEWTON, Mass. -- Second Fund Continues to Target Small to Mid-Market Investments in Publishing and Information, Human Resource and Business Services, Consumer Product and Specialty Retail Sectors Castanea Partners announced today the close of Castanea Partners Fund II, L.P., a $207 million new fund. In addition to a substantial capital commitment from the managing partners of Castanea, new investors include a small group of prominent endowments and foundations, led by Princeton University Princeton University, at Princeton, N.J.; coeducational; chartered 1746, opened 1747, rechartered 1748, called the College of New Jersey until 1896. Schools and Research Facilities and Yale University Yale University, at New Haven, Conn.; coeducational. Chartered as a collegiate school for men in 1701 largely as a result of the efforts of James Pierpont, it opened at Killingworth (now Clinton) in 1702, moved (1707) to Saybrook (now Old Saybrook), and in 1716 was . "We feel fortunate to have attracted such a prestigious group of limited partners," said Brian Knez, Managing Partner of Castanea. "We believe that our new investors will serve as a strong foundation to support the ongoing development of our firm." Castanea Partners is a private equity firm whose professionals combine strong operational backgrounds with private equity experience. The firm was founded in 2001 by Brian Knez and Robert Smith Robert Smith, Bob Smith or Bobby Smith may refer to: Business
U.S. department-store chain. It was founded in Dallas, Texas, in 1907 by Herbert Marcus, his sister Carrie Marcus Neiman, and her husband, A.L. Neiman. , their experience includes the acquisition and divestiture The breakup of AT&T. By federal court order, AT&T divested itself on January 1, 1984 of its 23 operating companies, which became known as the Regional Bell Operating Companies (RBOCs). of businesses with combined revenues of $3 billion. Castanea has complemented its extensive senior operating experience with a talented team of private equity professionals. "With the new fund, we plan to maintain Castanea's strategy of investing in small to mid-market companies within sectors where we have extensive business development and operating expertise," said Robert Smith, Managing Partner of Castanea Partners. "With this strategy we believe we can realize superior returns for our partners and portfolio companies," he added. Castanea Partners Fund II seeks to make equity investments of approximately $10 million to $20 million in leveraged buyouts leveraged buyout, the takeover of a company, financed by borrowed funds. Often, the target company's assets are used as security for the loans acquired to finance the purchase. , growth investments and troubled situations. Consistent with the operating experience of the team, the new fund will focus its efforts on the publishing and information, human resource and business services, and the consumer product and specialty retail sectors. "Castanea has been a valuable and active partner in our company," said Phil Romano, Founder and co-CEO of eatZi's, a Castanea portfolio company and a unique specialty retailer of pre-prepared meals. "Their team has been very supportive of our efforts to successfully expand the eatZi's business by providing unique operational and strategic resources to the company." For more information about Castanea Partners, please visit www.castaneapartners.com. |
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