Eureka Equity Partners, L.P. (“Eureka”) today announced the final closing of Eureka III, L.P. (“Fund III”) at its hard cap of $175 million, exceeding its $150 million target. Fund III is the successor small buyout and growth equity fund to Eureka’s $130 million Eureka II, L.P. (“Fund II”) and its fully-realized $85 million Eureka I, L.P. (“Fund I”).
“We are extremely pleased to receive overwhelming support from our existing investors and to welcome several new institutional investors to Fund III,” said Chris Hanssens, Managing Partner of Eureka Equity Partners. “Institutional investors are reducing the number of their relationships and making larger commitments to fewer GPs, so we are obviously thrilled that our differentiated strategy and commitment to invest out of a series of smaller vehicles resonates with such a select group of investors. We are confident in our ability to identify and partner with uniquely-talented management teams to build growing, niche-market leaders that drive superior returns for our investors.” Eureka has closed two platform acquisitions in Fund III to date, Creative Co-Op and West Academic Publishing.
About Eureka Equity Partners
Eureka Equity Partners is a private equity firm targeting niche market leaders with up to $100 million in revenue across industry segments in which Eureka brings significant experience and operating resources, including business services, health care services, specialty manufacturing and consumer products. Eureka focuses on partnering with proven managers to drive the growth of promising companies into outstanding enterprises. Eureka leads buyouts that bring significant ownership to the operators driving the success of the business. With this core principle that aligns the interests of our operators and our investors, Eureka is also experienced and comfortable effecting minority recapitalizations with flexible investment structures designed to uniquely meet the needs of the company, its management team and other shareholders. More information about Eureka Equity Partners can be found at www.eurekaequity.com.