New York City-based private equity firm The Beekman Group held the final close of its third fund, at $230m.
Investors include several endowments, family offices, global asset management firms, insurance companies and pension funds.
Beekman Investment Partners III, LP, will continue the strategy employed by its first two funds, investing in lower middle-market services companies with enterprise values ranging from $15 million to $75 million in three focus industry sectors – consumer, healthcare and business services.
The firm’s investment team is led by Founder and Managing Partner, John G. Troiano, a former partner at Onex Corporation, and by Managing Directors, Andrew Marolda and Andrew Brown.
The Beekman Group was founded in 2004.