AUA Private Equity Partners LLC has raised $310 million for its second fund, beating its $300 million target. AUA Private Equity Fund II’s limited partners include pension funds, foundations, family offices, fund of funds and high-net worth individuals. Barton Clark and Daniel Cote from Latham & Watkins served as legal counsel on the fund. AUA Private Equity invests in lower-middle market companies with a particular focus on Hispanic-oriented companies.
WEST PALM BEACH, Fla. (April 27, 2021) – AUA Private Equity Partners, LLC (“AUA Private Equity” or the “Firm”), a leading consumer private equity firm focused on investing in Hispanic-oriented companies and/or family-owned businesses seeking liquidity or transition is pleased to announce the final closing of AUA Private Equity Fund II, LP and its parallel funds (collectively, “Fund II”) with total capital commitments of $310 million. The Firm exceeded its initial target of $300 million with commitments from existing investors as well as new investor relationships including pension funds, foundations, family offices, Fund of Funds and high net worth individuals.
Fund II will continue AUA Private Equity’s investment strategy of investing in lower middle-market companies in the United States in the Consumer sector. The Firm will make equity investments of $20 million to $75 million in consumer products and consumer services companies where it can provide operational support in transforming family businesses into leading institutional companies. AUA Private Equity utilizes purchase price discipline and employs low leverage to acquire companies focusing on operational improvements rather than financial engineering to deliver returns to investors.
Andy Unanue, Managing Partner of AUA Private Equity stated, “It is with great pride and much appreciation that we announce our oversubscribed final closing for Fund II. We are privileged to have such high-quality partners who support our investment strategy and who continue to view us as stewards of their capital. Our partners appreciate our early adoption of ESG initiatives and commitment to diversity across our management teams and boards as well as our operational expertise that allows us to deliver positive returns to investors while creating value for our owners and partners.”
Steven Flyer, Partner of AUA Private Equity, commented: “The success of our fundraising efforts is a testament to the hard work of our investment team in sourcing and executing on quality investments and creating value for all stakeholders. We greatly appreciate the support of our limited partners and look forward to deploying capital in our targeted investment strategy while continuing to focus on operational improvements in delivering strong financial results.”
AUA Private Equity was founded by Managing Partner Andy Unanue, Partners Steven Flyer and David Benyaminy and Managing Director Kyce Chihi in 2011 to execute on its demographic strategy of investing in Hispanic-oriented and multi-cultural businesses as well as in family-owned companies seeking transition or liquidity. To date, Fund II has completed four platform investments including TruFood, a leading co-manufacturer of protein bars, breakfast bars, moulded chocolate and granola for some of the leading CPG companies in the U.S., Gourmet Culinary Partners, a leading national manufacturer of specialty prepared foods including appetizers, breakfast foods, entrees, side dishes and soups servicing retail, restaurants, hospitality and schools, Westminster Pet Products, a distributor of pet accessories, treats, chews and toys with a strong position in the supermarket and retail segments, and bistroMD, a national, direct to consumer doctor-designed and chef-prepared meal delivery subscription service that provides ready-to-eat, gourmet meals, specifically designed for weight loss and long-term weight management.
David Benyaminy, Partner of AUA Private Equity added, “AUA Private Equity has built a strong reputation of partnering with family-owned companies and Hispanic-oriented businesses to build leading consumer companies. We will look to continue to support entrepreneurs and family businesses as we successfully deploy Fund II and assist our management teams and owners in building great companies.”
Barton Clark and Daniel Cote from Latham & Watkins served as legal counsel in the formation of Fund II.
About AUA Private Equity Partners, LLC
AUA Private Equity Partners is an operationally focused, lower middle-market investment firm providing strategic capital to companies in the consumer products and consumer services sectors with a particular focus on family-owned businesses or companies benefiting from the growth of the U.S. Hispanic population. AUA Private Equity makes equity investments of $20 to $75 million in companies that generate in excess of $5 million in EBITDA. For more information on AUA Private Equity Partners, please visit www.auaequity.com.