GHK Capital Partners has raised $410 million for its debut fund, beating its initial $350 million target. The fund’s limited partners include insurance companies, financial institutions, funds of funds, public and corporate pension plans, and high-net worth families. Moelis & Company LLC’s private funds advisory group served as placement agent for the fund while Davis Polk & Wardwell LLP was legal counsel. GHK targets middle-market industrial companies in North America.
GREENWICH, Conn.–(BUSINESS WIRE)–GHK Capital Partners LP (“GHK”), a leading middle-market private equity firm, has announced the final closing of GHK Fund I (the “Fund”). GHK accepted $410 million in aggregate capital commitments, exceeding its initial target of $350 million and surpassing its hard cap of $400 million.
This is the first private equity fund raised by GHK, which targets control investments in performing middle-market industrial companies across North America. GHK was founded in 2018 by Gilbert H. Klemann following a seventeen-year career at Goldman Sachs where he led control private equity investments across various North American end-markets. The majority of the GHK investment team joined him from Goldman Sachs.
“We are grateful and humbled by the investor support for our inaugural fund,” commented Gil Klemann, Managing Partner. “We believe this successful capital raise is a testament to our differentiated value proposition and the exceptional team we have built over the last four years.”
GHK’s investment strategy combines active ownership, extensive industry experience and a relationship driven partnership approach in seeking to generate asymmetric risk return investment opportunities. GHK looks beyond traditional value creation levers, and focuses on crafting a long-term organic growth strategy to maximize enterprise value and build industry leaders with superior, sustainable financial performance.
The Fund’s investor base consists of a diverse group of insurance companies, financial institutions, funds of funds, public and corporate pension plans, and high net worth families. The Fund currently has two investments, Hasa Inc. and ITS Logistics. Hasa is a leading manufacturer and distributor of high-quality water treatment products used to sanitize and maintain water systems for the recreational, industrial, and municipal end markets. ITS Logistics is a rapidly growing third-party logistics company providing asset-lite brokerage services, asset-based dedicated fleet transportation and omnichannel distribution and fulfillment services.
Prior to raising the Fund, GHK raised discrete single-asset funds to complete two investments, Brown & Settle Inc., a leading provider of site development services for data centers, and Supreme Cabinetry Brands, a leading premium semi-custom cabinetry manufacturer.
Moelis & Company LLC’s Private Funds Advisory Group served as placement agent and Davis Polk & Wardwell LLP served as legal counsel in the formation of the Fund.
About GHK Capital Partners
GHK is a leading middle-market private equity firm focused on making control investments in industrial companies across North America. GHK targets established businesses with strong free cash flow margins and multiple avenues for organic growth and operational improvement. For further information, please visit www.ghk.com.