- Chicago-based Granite Creek Capital Partners announced it closed the $200 million FlexCap II fund
- This fund will be used on providing equity and debt capital to lower middle market companies
Chicago-based Granite Creek Capital Partners recently announced the closing of its $200 million FlexCap II fund. This fund will focus on providing equity and debt capital to lower middle market companies. And with the FlexCap II Fund, it brings Granite Creek Capital’s total to over $400 million of assets under management across its strategies.
Granite Creek is expecting to invest in 15-20 companies in the manufacturing, business services, healthcare, and agribusiness industries. For each transaction, FlexCap II is going to invest $10 million to $20 million.
“The closing of FlexCap II is another milestone in Granite Creek’s 14-year history, demonstrating continued confidence by our investors in our ability to invest in companies with compelling, risk-adjusted returns,” said Granite Creek Capital Partners co-founder and managing partner Mark Radzik. “In addition to our capital and financial oversight, we bring strategic, operational and business development resources to our portfolio companies that are often inaccessible to the typical smaller business, helping them scale in multiple ways.”
Granite Creek’s prior corporate investment fund is known as FlexCap I is a top decile performing fund that had $85 million of assets under management. The FlexCap I fund included a diverse portfolio of 19 companies such as SMS Assist, Symphonix Health Insurance, Weld Racing, Cyalume Technologies, Bio-Engineered Supplements and Nutrition (BSN), and Big Joe Forklifts.
Along with providing funding to lower middle market companies, Granite Creek also co-founded Renovo Financial in 2011 — which is one of the largest regional private lenders serving real estate entrepreneurs.
Some of the executives that work for Granite Creek include co-founder and partner Brian Boorstein; co-founder and partner Peter Lehman; partner James Clark, operating partner Michael Barry; CFO Angie Kuna (Zemen), CPA; Director Ting Wang; associate Akshat Vaidya; and associate Jordan Liss.
