Princeton Equity Group has closed its inaugural fund at over $350 million, beating its initial $250 million target. Princeton Equity Partners I’s limited partners include U.S. and non-U.S.-based endowments, foundations, insurance companies, public pensions, fund-of-funds, asset managers and family offices. Aviditi Advisors served as placement agent for the fund while Kirkland & Ellis LLP provided legal counsel. Based in Princeton, New Jersey and Dallas, the private equity firm invests in franchisor and multi-unit companies.
PRINCETON, N.J. and DALLAS, June 15, 2021 /PRNewswire/ — Princeton Equity Group, LLC, a Princeton, NJ and Dallas, TX-based private equity firm focused on control investments in franchisor and multi-unit companies, today announced the final closing of its inaugural fund, Princeton Equity Partners I, L.P., with more than $350 million in total commitments, surpassing its initial $250 million target.
The fund exceeded its hard cap and was oversubscribed. Investors include U.S. and non-U.S.-based endowments, foundations, insurance companies, public pensions, fund-of-funds, asset managers, and family offices.
Princeton is led by Jim Waskovich and Doug Kennealey and seeks partnerships with the founders and management teams of high-growth, market-defining franchisors and multi-unit businesses with $2 million to over $20 million of EBITDA across a variety of end markets. The firm looks to leverage its considerable industry experience, vast professional network, and proprietary technology and data platform to help build companies of extraordinary value.
Princeton recently closed two platform investments: Card My Yard, a high-growth franchisor of celebratory yard rental greetings with over 420 locations, and Strickland Brothers, a high-growth operator and franchisor of drive-thru, 10-minute oil change and automotive maintenance service centers with 40 open locations and more than 160 in development.
Aviditi Advisors served as exclusive placement agent for the fund and Kirkland & Ellis LLP provided legal counsel to Princeton.
About Princeton Equity Group
Princeton Equity Group is among the most experienced franchisor and multi-unit investors in the United States and exclusively invests in leading franchisor and multi-unit companies. Princeton views each investment as a long-term, supportive business partnership with founders and management teams to help build companies of great value. The principals at Princeton have sponsored investments in some of the most admired, growth-oriented franchisors and multi-unit companies in the U.S. For more information, visit www.princetonequity.com.