Firm: Hispania Capital Partners LLC
Fund: Hispania Private Equity II LP
Target: Between $150 million and $200 million
Amount Raised: $105 million
That puts the shop well on its way to its aim of securing between $150 million and $200 million in pledges for
Returning investors include
Hispania Capital expects to hold a final close for the fund before the end of 2009. The firm was co-founded in February 2003 as a small business investment company by Carlos Signoret and Victor Maruri. It secured $125 million for debut fund Hispania Private Equity, which closed in May 2004, according to Thomson Reuters data.
Portfolio companies for Fund I include CSA Group Inc., a provider of engineering and other project delivery services headquartered in Miami; Eastern Research Services, a Philadelphia-based telephone data collection company; and NEPS LLC, a Salem, N.H., digital document software provider.
“We are pleased with the performance of our Fund I investments, including two successful exists which have returned over 50 percent of invested capital to date,” said co-founder Signoret, also a managing principal, in a statement accompanying news of the closing.
For Fund II, Hispania Capital plans to invest up to $20 million per platform deal. It’s looking to make both buyout and growth equity investments in companies with “compelling value propositions, proven management teams, positive cash flow and annual revenue in excess of $10 million,” according to its press release.
The firm believes its specialized approach provides some insulation from tough economic conditions.
“In what is an adverse macroeconomic environment, our investment thesis, which targets the non-cyclical drivers of U.S. Hispanic business growth, and our investment strategy, which is not dependent on favorable credit markets, position HCP to provide attractive returns to our investors,” said co-founder and managing principal Maruri in the statement.