11/27/17
Clarion Capital Partners Closes Third Fund at Hard Cap of $427 Million Clarion Capital Partners Closes Third Fund at Hard Cap of $427 Million
New York, November 27, 2017 – Clarion Capital Partners, LLC (“Clarion” or the “Firm”), a New York City based lower middle market private equity firm, announced that it successfully raised its latest fund, Clarion Investors III, LP (“Fund III” or the “Fund”) with total capital commitments of $427 million. Fund III was significantly oversubscribed with demand in excess of an initial target of $350 million and an initial hard cap of $425 million, and successfully reached its final closing four months after launch. Fund III received capital commitments from a globally diverse group of investors, including public pension funds, corporate pension funds, insurance companies, fund of funds, endowments, foundations and global family offices.
Clarion will continue its consistent, disciplined investment strategy in Fund III. Clarion targets high-growth, strategically important lower middle market companies in business and healthcare services; media, entertainment and technology; consumer and retail; and specialty financial services. Since the Firm’s founding, the Clarion team has cultivated an extensive global network and has a history of creating valuable partnerships with founders and management teams of lower middle market companies operating in its target sectors.
“We are gratified by the support of our existing limited partners, many of whom are investing with us for the third time” said Clarion Managing Partner Marc Utay. “In addition, the development of our team and firm culture allowed us to attract new limited partners who will help our firm’s growth in the future. We are excited to work together to execute the investment strategy that has been so successful for Clarion over our first two funds.”
Clarion raised the fund without the help of a placement agent. Paul, Weiss, Rifkind, Wharton & Garrison LLP served as legal counsel.
About Clarion
Founded in 1999, Clarion is a New York-based investment manager operating two primary business segments: Private Equity (launched in 1999) and Structured Credit (launched in 2018). Clarion’s private equity business seeks to make primarily control investments in a diversified portfolio of lower middle-market companies generating $7.5-30.0 million of EBITDA. Clarion focuses on growth companies in industries such as: Media, Entertainment & Technology; Financial Technology & Services; Business, Healthcare & Industrial Services; and Consumer. Clarion’s structured credit business focuses mostly on CLO equity and mezzanine investments, sourced both in the primary and secondary markets. The structured credit team manages traditional private funds and an insurance-dedicated fund. Additional information on Clarion can be found at www.clarion-capital.com.