StoneTree Investment Partners, a Dallas-based lower middle market private equity firm, announced the first and final closing of its debut fund, StoneTree Investment Partners Fund I, LP, with total capital commitments of $155 million.
Founded in 2021, Stonetree said it specializes in buyouts of industrial and manufacturing businesses in the U.S. and Canada.
“We’re thrilled to partner with a remarkable group of blue-chip institutional investors, including multiple long-standing relationships,” StoneTree Partner Joel Stanwood said in a statement. “We’re grateful for the opportunity to support the respective missions of world-class institutions as we pursue StoneTree’s own mission and purpose of ‘Transforming Industrials. Investing in People.'”
The firm said that despite a challenging fundraising environment, the fund was oversubscribed and successfully reached its hard cap in just over two months of fundraising. It added that StoneTree Investment Partners Fund I LP received commitments from a diverse group of leading institutional investors, including “investment funds, family offices, foundations, pension funds, endowments, and OCIOs.”
A particular emphasis on ‘manufacting companies’
The fund will focus on acquiring controlling equity interests in lower middle market industrial businesses, with a particular emphasis on manufacturing companies, the firm said. The fund aims to leverage StoneTree’s operational capabilities and industry expertise to drive profit growth in its partner companies while creating attractive career opportunities for the employees of those companies.
Pacenote Capital served as StoneTree’s exclusive agent for Fund I.
“We appreciate the bespoke and curated process the Pacenote team delivered,” StoneTree Partner Chris Dupré said in a statement. “They seamlessly conducted a process with a high degree of efficiency that allowed our team to close a new investment and pursue several other opportunities, while expanding relationships with exceptional investors known for investing in emerging managers.”
McGuireWoods served as legal counsel to StoneTree during the fundraise.
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