TLDR:
– Peterson Partners closed $265 million in Fund X for investing in profitable and growth-oriented companies
– Fund X plans to make approximately 12 investments, already investing in Dura Software, Packsize, and Kelso
Utah Business reports that Peterson Partners has successfully raised $265 million for its tenth private equity fund, Fund X. The fund is focused on investing in profitable and growth-oriented companies, typically providing $10-25 million in funding to entrepreneurs and management teams. Peterson Partners, one of the earliest funds in the Mountain West region, has a track record of investing across various sectors including software, business services, healthcare, and consumer goods.
Clint Peterson, the Managing Partner of Peterson Partners, emphasized their commitment to helping great people build great businesses and expressed gratitude for the ongoing support from investors, some of whom have been with the firm for over two decades. The firm’s approach involves leveraging insights from their extensive network to identify opportunities for value creation and growth acceleration.
With the closing of Fund X, Peterson Partners intends to make approximately 12 investments. Already, they have invested in companies such as Dura Software, a software aggregator, Packsize, a sustainable packaging provider, and Kelso, a leader in commercial mechanical services. The partnership with these companies exemplifies Peterson Partners’ focus on supporting entrepreneurs and fostering business growth while maintaining distinctive company cultures.
Steve Carroll, CEO of Kelso, highlighted the value of working with Peterson Partners beyond just capital infusion, emphasizing the firm’s track record of providing support and guidance to entrepreneurs, especially during challenging times. Peterson Partners, with over $2.0 billion under management across various investment strategies, aims to continue its mission of helping exceptional individuals build enduring enterprises.
