U.S. Summit Park closes its third fund at $245 million

U.S. private investment firm Summit Park (SP) has announced the final closing of Summit Park III, L.P. fund at $245 million. The fund exceeded its original target of $200 million.

Limited partners include all of the predecessor fund’s investors, as well as the addition of several new institutional investors, including pension funds, foundations and asset managers.

Investment interests will be oriented towards lower middle market companies with $4 to $15 million in earnings before interest, taxes, depreciation, and amortization located in the Eastern half of the United States.

Summit Park III will continue the strategy of the firm’s predecessor fund, Summit Park II, L.P., which closed in April 2015.