Frontenac Closes Oversubscribed Fund XIII at $900 Million

CHICAGO--(BUSINESS WIRE)--Frontenac, a Chicago-based private equity firm, today announced the closing of its 13^th fund, Frontenac XIII Private Capital L.P. (“Frontenac XIII”). The fund was significantly oversubscribed and closed at $900 million of committed capital, well above its initial $700 million target. The more recent predecessor funds, Frontenac XII (2022 vintage), XI (2018), and X (2014) totaled commitments of $520 million, $325 million, and $250 million, respectively.

Frontenac XIII reached its hard cap with strong support from its existing investor base and an expanded group of limited partners, including leading endowments and foundations, pension funds, sovereign wealth funds, asset managers, consultants, and family offices in the U.S. as well as abroad.

On behalf of the firm, Managing Partners, Walter Florence, Ron Kuehl, and Michael Langdon commented:

“It is incredibly meaningful to see our firm’s investing approach, team and hard work resonate in the market. We are grateful for the enduring support from our existing investors and the confidence they have demonstrated in our team and in our strategy. We are also pleased to welcome a diverse group of high-quality new LPs that serve to deepen our investor base, especially amid challenges in the broader fundraising environment.”

Known for its CEO1ST® approach, namely the combination of capital, experienced operating talent and repeatable value creation playbooks, Frontenac has built a thesis-driven, executive-centric franchise in lower middle market growth buyouts across three core industries – consumer, industrial, and services. Pairing skilled operators with deeply researched theses provides attractive advantages that Frontenac believes help differentiate the firm as a driver of growth, professionalization and value creation at entrepreneurial companies. Further, this approach strives to address the many challenges faced by business owners today, including talent augmentation, strategic planning, and the acceleration of organic and inorganic growth. Frontenac complements its CEO1ST approach with an in-house Portfolio Resources Group (“PRG”) that brings specialized skill sets across strategy, finance, talent, operations, and technology to support post-closing value creation throughout the deal lifecycle.

Frontenac XIII will remain focused on the same sectors, investment disciplines and value-creation strategies successfully deployed in previous funds.

Harris Williams Private Capital Advisory Ltd. advised on the formation and placement of the fund, and Kirkland & Ellis served as legal counsel.

About Frontenac

Frontenac is a Chicago-based private equity firm. The firm focuses on investing in lower middle market buyout transactions in the consumer, industrial, and services industries. Frontenac works in partnership with established operating leaders, through an executive-centric approach called CEO1ST®, which seeks to identify, acquire, and build market-leading companies through transformational acquisitions and operational excellence. Over the last 50+ years, Frontenac has built a franchise working with over 325 owners of mid-sized businesses as they address complex transition issues of liquidity, management enhancement, and growth planning. For more information, please visit www.frontenac.com.