New Harbor Capital, a Chicago, IL-based lower middle market private equity firm, closed its sophomore fund, at $250m.
Limited partners of New Harbor Capital Fund II include domestic and international pension funds, endowments, funds of funds, asset managers, family offices and high-net worth individuals.
The fund will make individual investments between $10m and $40m in rapidly growing healthcare, education and business services companies using a research-based approach to identify opportunities in direct partnership with founders and management teams.
Led by Tom Formolo and Ed Lhee, New Harbor Capital raised its first fund in 2014 with $146m in capital commitments and today has over $400m of capital under management. The investment team also includes:
– Jocelyn Stanley, Principal
– John Pircon, Vice President
– Justin Marquardt, Vice President
– Zach Borg, Associate, and
– Brad Pelisek, Associate.