Insight

North Branch closes sophomore fund at $213m

Fund II's limited partners include insurance companies, fund-of-funds, family offices, charitable foundations, university endowments, and high-net worth individuals.

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  • North Branch targets lower middle market industrial businesses
  • In 2019, North Branch raised $145 million for its first fund
  • M2O Private Fund Advisors LLC was placement agent for the fund while Latham & Watkins LLP provided legal counsel

North Branch Capital has raised $213 million for its second fund, beating its $200 million target.

Fund II’s limited partners include insurance companies, fund-of-funds, family offices, charitable foundations, university endowments and high-net worth individuals.

North Branch targets lower middle market industrial businesses.

“We are humbled by our existing limited partners’ continued support and are grateful to welcome several new relationships into the North Branch organization with Fund II,” said North Branch partner, Jon Leiman, in a statement. “The conviction of our investors during a short fundraise gives us further confidence to continue executing our strategy of investing in lower middle market, unique industrial companies with compelling organic growth potential.”

North Branch raised its first fund in 2019 with $145 million in capital commitments.

M2O Private Fund Advisors LLC was placement agent for the fund while Latham & Watkins LLP provided legal counsel.

Based in Oak Brook, Illinois, North Branch was founded in 2014.