Rising Point Capital Management has closed its inaugural institutional private equity fund with $325 million in total commitments, exceeding its original $250 million target.
Rising Point Capital Management Fund I was oversubscribed and exceeded its initial hard cap during a six-month fundraising process.
Investors included pension plans, foundations, family offices and funds of funds, along with commitments from members of the firm.
Chicago-based Rising Point focuses on founder- and family-led lower-middle-market field-based services businesses.
The firm was founded in 2019 and is led by partners Michael Drai, Justin Marku, Natalie Greene and Marc Perez.
Before raising its institutional fund, Rising Point deployed capital as an independent sponsor. Since inception, the firm has completed 27 acquisitions, including nine platform investments.
Its investments span industrial services, energy transition, infrastructure, environmental and waste services, rental, value-added distribution, commercial services and residential services.
Rising Point plans to use Fund I to continue partnering with business owners and management teams seeking capital and operational support to scale their companies.
M2O Private Fund Advisors served as exclusive placement agent. Kirkland & Ellis provided legal counsel.
KEY QUOTES:
“Since our founding, we have focused on investing in compelling field-based services companies that are looking for a strategic and collaborative partner to help them scale their platforms and drive meaningful long-term growth. In our view, what sets us apart is our transparent, partnership-oriented mindset combined with our extensive experience developing data-driven strategic plans to help companies scale while preserving the foundation that made them successful.
We are grateful for the strong support of our investors and for the confidence they have placed in our team and our differentiated value proposition. We are looking forward to further leveraging our knowledge, deep industry networks and operational experience to help business owners accelerate their next phase of growth.”
Michael Drai, Justin Marku, Natalie Greene and Marc Perez, Partners at Rising Point Capital Management
