ATLANTA, March 1 /PRNewswire/ -- Roark Capital Group, an Atlanta-based
private equity firm, announced today the final closing of its first
institutional private equity fund, Roark Capital Partners, LP. The fund
capped commitments at $413 million, above its original target of $300 million.
Roark Capital Partners, LP is one of the largest private equity funds in the
Southeastern United States. When combined with debt, Roark now has over
$1 billion of buying power at its disposal.
"We are delighted with the reception we received from the investment
community on our first institutional fund," said Neal K. Aronson, Managing
Partner. "We look forward to continuing the investment strategy we developed
four years ago and generating attractive returns for our new investment
Investors in the fund include leading financial institutions, college
endowments, charitable institutions, and state, country and corporate pension
plans. Investors include Princeton University, Harvard University, Hamilton
Lane, Goldman Sachs, ATP, Parish Capital, and Commonfund Capital among others.
Lazard Freres & Co. acted as placement agent and Paul, Weiss, Rifkind,
Wharton & Garrison was legal counsel for the fund.
"The success of this over-subscribed fund-raising effort clearly reflects
the strength of Roark's investment record and strategy," said William H.
Riddle, Jr., Managing Director at Lazard.
Historically, Roark raised capital on an as-needed basis, investing
approximately $150 million in seven companies since its founding in 2001.
Roark's current portfolio companies include Carvel, Cinnabon, Seattle's Best
Coffee International, FastSigns, Money Mailer, Pike Family Nurseries and
United States Arbitrate Finance II.
About Roark Capital Group
Roark Capital Group is an Atlanta-based private equity firm that acquires
majority positions in family-owned businesses. Roark's primary focus is
companies headquartered in the Southeast, and franchise, financial services
and niche manufacturing businesses located throughout the United States. The
firm, with more than $560 million of equity capital under management,
specializes in companies with attractive growth prospects and revenues between
$20 million - $500 million. For more information about Roark Capital Group,
please visit www.roarkcapital.com .
Contact: Barbie Pressly
The Inside Pitch
SOURCE Roark Capital Group