Roark Capital Group Raises $413 Million Private Equity Fund

-- One of the largest private equity funds ever raised in the Southeast --

Mar 01, 2005, 00:00 ET from Roark Capital Group

    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 .
      Contact:  Barbie Pressly
                The Inside Pitch
                (404) 386-7989

SOURCE Roark Capital Group