The Jordan Company LP has closed its new continuation fund at $1.3 billion. Hamilton Lane led the transaction for The Resolution II Continuation Fund LP. M2O Private Fund Advisors served as financial advisor to TJC on the fund while Latham & Watkins was legal counsel. And, Ropes & Gray served as legal counsel for Hamilton Lane. TJC invests in middle-market companies.
NEW YORK, Aug. 23, 2021 /PRNewswire/ — The Jordan Company, L.P. (“TJC”) is pleased to announce the successful closing of The Resolute II Continuation Fund, L.P. (together with its related vehicles, the “Fund”). The Fund consists of over $1.3 billion in capital commitments, which funded the purchase of portfolio companies from The Resolute Fund II, L.P. (“Resolute II”), a 2007 vintage fund with approximately $3.6 billion in capital commitments, and is the first continuation fund established by TJC.
The Fund provides TJC with additional time and capital to support the continued growth of key portfolio assets, while also providing Resolute II limited partners an attractive liquidity opportunity to solidify their returns.
“With the closing of the Fund, we are thrilled to be extending our partnership with the Fund’s portfolio companies while also providing existing Resolute II limited partners optionality to receive liquidity based on their individual investment objectives,” said Rich Caputo, Chief Executive Partner of TJC. “The transaction received strong support from existing Resolute II limited partners and was oversubscribed by prospective new investors. We could not be happier with the high-quality investor base the Fund attracted,” added Kristin Custar, Partner and Head of TJC’s Global Investor Capital Group.
The Fund’s portfolio companies are representative of TJC’s long-lasting focus on investing in middle market businesses with strong cash flow conversion and operational improvement potential in fragmented markets across the firm’s four core industry verticals: Consumer & Healthcare; Industrials; Technology, Telecom & Utility; and Transportation & Logistics.
“We believe this transaction reinforces the alignment among the Fund’s portfolio company management teams, limited partners, and TJC. We are excited to begin a new chapter in our partnership with our investors and management,” added Rich Caputo.
The transaction was led by Hamilton Lane and included a diverse group of secondary and primary investors, including Resolute II limited partners. TJC offered all existing Resolute II limited partners the opportunity to exercise a full liquidity option, a rollover option, and an option to seek to make additional capital commitments to the Fund.
M2O Private Fund Advisors served as exclusive financial advisor to TJC and Latham & Watkins served as legal counsel to TJC. Ropes & Gray served as legal counsel for Hamilton Lane.
About The Jordan Company
TJC, founded in 1982, is a middle-market private equity firm that has managed funds with original capital commitments in excess of $16 billion since 1987 and a 39-year track record of investing in and contributing to the growth of many businesses across a wide range of industries, including Consumer & Healthcare; Industrials; Technology, Telecom & Utility; and Transportation & Logistics. The senior investment team has been investing together for over 20 years and it is supported by the Operations Management Group, which was established in 1988 to initiate and support operational improvements in portfolio companies. Headquartered in New York, TJC also has offices in Chicago and Stamford. For more information, please visit www.thejordancompany.com.
About Hamilton Lane
Hamilton Lane (NASDAQ: HLNE) is a leading private markets investment management firm providing innovative solutions to sophisticated investors around the world. Dedicated exclusively to private markets investing for 30 years, the firm currently employs approximately 475 professionals operating in offices throughout North America, Europe, Asia Pacific, and the Middle East. Hamilton Lane has $757 billion in assets under management and supervision, composed of $92 billion in discretionary assets and $665 billion in advisory assets, as of June 30, 2021. Hamilton Lane specializes in building flexible investment programs that provide clients access to the full spectrum of private markets strategies, sectors, and geographies. For more information, please visit www.hamiltonlane.com or follow Hamilton Lane on LinkedIn: www.linkedin.com/company/hamilton-lane.