NEW YORK, NY, September 20, 2022 – Union Capital Associates (together with its affiliates, “Union Capital”), a lower middle-market private investment firm, today announced the closing of its most recent fund, Union Capital Equity Partners III, L.P. (the “Fund” or “Fund III”). The oversubscribed Fund closed at its hard cap of $309 million.
As with its predecessor, Fund III will invest in U.S. founder-owned businesses where Union Capital is typically the first institutional investor. Union Capital has a long history of successfully partnering with business owners, entrepreneurs and management teams. The firm’s Managing Partners have worked together for more than 15 years and are supported by several of the firm’s former portfolio company CEOs, who provide operations expertise to assist management teams as well as provide deep industry knowledge in the areas of Union Capital’s focus: food manufacturing, business process outsourcing, franchised restaurants and specialty manufacturing.
“We believe the success of this capital raise is testament to the strength of our team, the soundness of our investing approach, and our track record of delivering meaningful results for our investors,” said Bill Ogden, Managing Partner, Union Capital. “It has been truly gratifying to see the interest in Fund III and we thank our new and returning investors for their support and trust in Union Capital.”
Fund III received strong support from a globally diverse group of investors including endowments, foundations, pension funds, financial institutions and family offices.
“With this oversubscribed fund, we are well positioned to continue investing in businesses with unique market positioning and partner with management teams to help unlock each company’s full potential,” said Reis Alfond, Managing Partner, Union Capital.
Union Capital has a robust pipeline of investment opportunities and already deployed roughly one quarter of Fund III into three portfolio companies with attractive attributes.
Monument Group acted as the exclusive placement agent for the Fund. In addition to Fund III, Monument Group advised Union Capital on raising Union Capital Equity Partners II, L.P., closing at its hard cap of $200 million.
“It has been a pleasure to again assist the Union Capital team in a successful fundraise and we thank them for this opportunity,” said Mike Miller, Managing Partner at Monument Group. “As with Fund II, we saw investor interest across the LP landscape, evidence of Union Capital’s well-earned reputation for success in lower middle-market investing.”
About Union Capital Associates
Union Capital is a leading lower middle-market private equity firm that invests in smaller U.S. founder-owned and family-owned businesses. Since 1968, the Union Capital team has built a reputation for successfully working with management teams to assist them in implementing operational changes that enhance the capabilities of founder-owned companies. Union Capital is the successor to Union Capital Corporation, and has a 50+ year reputation with lenders, co-investors and business owners for operating with the highest integrity. Today, Union Capital is managed by its three Managing Partners – Jay Landauer, Reis Alfond and Bill Ogden – and has offices in Connecticut and Chicago. For more information on Union Capital Associates, visit www.unioncapitalassociates.com.
About Monument Group
Monument Group is a leading, independent private placement agent managed by a senior team with significant buy-side investment heritage. Since its inception in 1994, Monument Group has assisted a range of general partners around the world to raise 120 funds, totaling more than US$120 billion of equity. These clients represent a broad variety of investment strategies including buyouts, growth equity, venture capital, private debt, infrastructure, real estate and natural resources. Monument Group also has a strategic alliance with boutique secondaries advisor Mozaic Capital. For more information on Monument Group’s primary and secondary capabilities, visit www.monumentgroup.com.
Monument Group, Inc., is a member of the Financial Industry Regulatory Authority (FINRA); Monument Group Europe LLP is authorized and regulated by the U.K. Financial Conduct Authority; Monument Group, L.P. is licensed as a Type II Financial Instruments Dealer in Japan; Monument Group (HK) Limited is licensed to conduct Type 1 regulated activities in Hong Kong.