Frontenac, a Chicago-based private equity firm, announced the closing of its 13th fund Frontenac XIII Private Capital L.P. This fund was significantly oversubscribed and closed at $900 million of committed capital, well above its initial $700 million target. And the more recent predecessor funds, Frontenac XII (2022 vintage), XI (2018), and X (2014) totaled commitments of $520 million, $325 million, and $250 million, respectively.
Frontenac XIII reached its hard cap with strong support from its existing investor base and an expanded group of limited partners, including leading endowments and foundations, pension funds, sovereign wealth funds, asset managers, consultants, and family offices in the U.S. and abroad.
Known for its CEO1ST approach, which combines capital, experienced operating talent, and repeatable value creation playbooks, Frontenac has built a thesis-driven and executive-centric franchise in lower middle market growth buyouts across three core industries: consumer, industrial, and services.
Combining skilled operators with deeply researched theses provides attractive advantages that Frontenac believes help differentiate the firm as a driver of growth, professionalization and value creation at entrepreneurial companies. And this approach strives to address the many challenges faced by business owners today, including talent augmentation, strategic planning, and the acceleration of organic and inorganic growth.
Frontenac complements its CEO1ST approach with an in-house Portfolio Resources Group (“PRG”) that brings specialized skill sets across strategy, finance, talent, operations, and technology to support post-closing value creation throughout the deal lifecycle.
Harris Williams Private Capital Advisory advised on the fund’s formation and placement, and Kirkland & Ellis provided legal counsel.
KEY QUOTE:
“It is incredibly meaningful to see our firm’s investing approach, team and hard work resonate in the market. We are grateful for the enduring support from our existing investors and the confidence they have demonstrated in our team and in our strategy. We are also pleased to welcome a diverse group of high-quality new LPs that serve to deepen our investor base, especially amid challenges in the broader fundraising environment.”
• ⁃ Managing Partners Walter Florence, Ron Kuehl, and Michael Langdon
