KarpReilly Hits $180M On Second Fund

Firm: KarpReilly LLC

Fund: KarpReilly Capital Partners II LP and KarpReilly Co-Investment Fund II LP

Raised: $180 million and $120 million, respectively

KarpReilly LLC, a lower mid-market shop targeting consumer companies, has taken in $180 million for its second fund in an initial close, along with $120 million for a companion co-investment fund designed to kick in on larger deals.

“We are grateful for the incredible support we have received from our limited partners, many of whom we have been working with since the mid 1980’s,” said Allan Karp, partner and co-founder in a prepared statement. The firm raised its debut fund, KarpReilly Capital Partners LP, in 2008. It closed at $180 million.

Karp and Chris Reilly founded Greenwich, Conn.-based KarpReilly in 2007 to invest in growing consumer companies that could benefit from having hands-on owners. Companies that the principals have invested in over the past 20 years include Bob’s Discount Furniture, Dollar Tree Stores and Ollie’s Bargain Outlet.