Chicago-based private investment firm Granite Creek Capital Partners has closed its oversubscribed third investment fund, Granite Creek FlexCap III, L.P., at $300 million [df482c70]. The fund will focus on providing flexible capital to growing lower middle market companies. Granite Creek plans to invest in 15 to 20 companies and establish active relationships with company leadership. The firm has already invested in Salem One and Pinstripes. Additionally, Granite Creek recently acquired NYP Corp, a New Jersey-based value-added packaging manufacturer and distributor. The company has a long history and will be led by experienced industry executive Robert Dahl as CEO. Granite Creek's previous fund, FlexCap II, closed at $200 million in 2019 and included a portfolio of 16 companies. The firm is known for its flexible, growth-oriented investments in lower middle market companies engaged in various industries.
Novo Tellus, a Singapore-based investment firm, has also successfully raised its third fund, Novo Tellus PE Fund 3, L.P., with USD 510 million in oversubscribed commitments [9f1983de]. The fundraising surpassed its target by 36% and closed at the hard cap of USD 510 million. The fund completed its raise six months after the first closing in June 2023, with existing institutional investors re-committing and new limited partners joining. Novo Tellus specializes in partnering with business leaders to drive growth in technology and industrial companies in Southeast Asia. The company focuses on deep sector knowledge and management partnerships to expand business vision and create lasting growth. Managing Partner Loke Wai San expressed gratitude for the support of limited partners and emphasized the company's commitment to investing in growth and creating value for stakeholders. Novo Tellus has a successful track record of building lasting growth in companies throughout Southeast Asia and beyond.
In summary, Granite Creek Capital Partners has closed its oversubscribed Fund III at $300 million and acquired NYP Corp. Novo Tellus has successfully raised its third fund at USD 510 million, surpassing its target and focusing on growth in technology and industrial companies in Southeast Asia [df482c70] [9f1983de].
