Granite Creek collects $300m for third fund

• With the FlexCap III fund, Granite Creek plans to invest in 15 to 20 companies
• Granite Creek Capital Partners closed its previous $200 million FlexCap II fund in 2019
• As a result of this fund-closing, Granite Creek has over $700 million of assets under management across its strategies

Granite Creek Capital Partners has closed its third fund at $300 million, beating its initial $250 million target.

Granite Creek FlexCap III will focus on growing lower middle market companies.

With the FlexCap III fund, Granite Creek plans to invest in 15 to 20 companies. To date, Fund III has invested in two companies, Salem One, a provider of corporate communication solutions and Pinstripes, Inc, a collection of entertainment and dining venues that attracts corporate events, weddings and other gatherings.

“We are grateful for the support we have received from our investors, many of whom have supported us since our founding in 2005,” said Mark Radzik, co-founder and managing partner at Granite Creek in a statement. “The robust investor interest in FlexCap III is a tribute to the important role that our firm plays in supporting the growth of the small businesses that fuel the American economy. Our team’s operational and financial guidance is highly valued by the companies in which we invest and is the key ingredient to the strong absolute and risk-adjusted returns that we seek. With the close of Fund III, our team is well prepared to execute on our healthy pipeline of opportunities.”

Granite Creek Capital Partners closed its previous $200 million FlexCap II fund in 2019.

With the close of FlexCap III Fund, Granite Creek has over $700 million of assets under management across its strategies.

Based in Chicago, Granite Creek was founded in 2005.