New York-based Quad Partners, a lower middle-market private equity firm, has closed its sixth fund at a hard cap of $388 million. Quad Partners VI’s limited partners include U.S. and European institutional limited partners and family offices. The fund will target growth-oriented education businesses. Weil, Gotshal & Manges LLP acted as legal counsel for Quad VI.
NEW YORK, May 3, 2021 /PRNewswire/ — Quad Partners (“Quad”), a lower middle-market private equity firm focused on the education industry, today announced the closing of Quad Partners VI LP (“Quad VI”) at its hard cap of $388 million. The fund was raised in approximately three months and is comprised of U.S. and European institutional limited partners and family offices.
Consistent with previous funds, Quad VI will seek to acquire and invest in high-quality, growth-oriented education businesses and to help them expand organically and through add-on acquisitions. Quad VI aims to invest in education technology, tech-enabled service and site-based companies with a particular focus on owner-operated businesses where the firm believes it can help drive value creation through its industry and operational expertise.
Quad was founded in 2000 by Lincoln Frank and Daniel Neuwirth and is headquartered in New York City. The firm’s prior fund, Quad Partners V LP, closed in 2018 with $229 million of capital.
The co-founders said, “We are grateful for the longstanding partnership with our investors and welcome the new limited partners who are joining us in our efforts to build high-quality education companies.”
They added, “Any success we have enjoyed over the past 21 years is due to the dedication of our portfolio company management teams and employees. In this particularly difficult year, they have been extraordinary in continuing to educate students and serve their school, corporate and university clients.”
Over the last year, Quad has remained active investing in and exiting portfolio companies. Quad recently invested in AmplioSpeech, a unique SaaS platform used to deliver and manage K-12 special education, and InPlace Software, a SaaS platform used to manage university externships and career placements. In addition, Quad successfully exited Learn on Demand Systems, SchoolAdmin, Cayuse and TargetX.
Weil, Gotshal & Manges LLP acted as legal counsel for Quad VI.
About Quad Partners
Quad Partners is a private equity firm committed to creating long-term value for all stakeholders by investing in and building high-quality, outcomes-driven education companies. Founded in 2000, Quad has invested in more than 60 education companies in the U.S. and abroad across preK-12, higher education, corporate training and lifelong learning. Quad invests in education technology, tech-enabled service and site-based companies with a particular focus on owner-operated businesses where the firm believes it can help drive value creation through its industry and operational expertise.
For more information about Quad, please visit our website at www.quadpartners.com.