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Fresh Off Successful SBIC, Conn. Shop Plots Fund IV

Firm: Hamilton Robinson Capital Partners

Fund: Hamilton Robinson Capital Partners IV

Target: $200 million – $250 million

Placement agent: Griffin Financial Group LLC (Likely)

Fresh off liquidating a highly successful small business investment company fund, Hamilton Robinson Capital Partners is laying the groundwork for its fourth limited partner-supported investment fund.

In November, the Stamford, Conn.-based firm sold the final two of nine companies from HRCP II, a $75 million, 2001 vintage SBIC fund. The companies had an aggregate enterprise value of $213 million when Hamilton Robinson bought them, and upon exit were valued at $457 million. That translates to a 3.9x net investment multiple and a 28 percent compound internal rate of return, Scott Oakford, a managing partner at the firm, told Buyouts.

Hamilton Robinson is currently investing from its third fund, Hamilton Robinson Capital Partners III LP, an $80 million vehicle. The firm had hoped to raise more capital, but closed it in September 2008 as the financial markets imploded.

Now the firm is getting ready to raise its next fund. Oakford said it would likely seek around $200 million to $250 million in the next 12 to 15 months for Hamilton Robinson Capital Partners IV LP. Hamilton Robinson will likely tap Griffin Financial Group LLC, an advisory firm out of King of Prussia, Pa., that helped the firm raise its previous fund, to help raise Fund IV.

Founded in 1984, Hamilton Robinson has carved out a niche for itself in the lower mid-market. The firm typically invests in companies with revenues of $25 million to $200 million with three characteristics: a recognizable brand, technical products or services, and an international scope. It is primarily interested in companies in the manufacturing, distribution and service industries.