New Heritage Capital: Empowering Founder-Owned Businesses for Growth and Success

In an impressive feat, New Heritage Capital has announced the successful closing of its oversubscribed fourth fund, New Heritage Capital IV, L.P., with a remarkable $438 million in capital commitments. This amount has surpassed their initial target of $350 million, illustrating the confidence and trust investors have in the Boston-based private equity firm. With a strong focus on partnering with high-growth, founder-owned businesses in the middle market, New Heritage Capital has established itself as a leading player in the industry.

Over the years, New Heritage Capital has raised approximately $1 billion in committed capital, allowing them to invest in more than 15 platform companies and 30 add-on acquisitions. This track record of success has been made possible by the firm's innovative approach and their commitment to nurturing long-term partnerships.

"We are grateful for the strong support and continued partnership from both our existing and new investors, particularly in such a challenging fundraising environment," stated Mark Jrolf, Co-Founder & Managing Senior Partner at Heritage. This acknowledgment of support highlights the value New Heritage Capital places on its relationships with investors, recognizing their crucial role in the firm's success.

One aspect that sets New Heritage Capital apart from other private equity firms is their unique investment structure called the Private IPO®. This innovative approach allows founder-owned businesses to access both liquidity and growth capital while retaining control of their company. By offering up to 50% in continued ownership, New Heritage Capital enables owners to realize significant liquidity while still participating in the future growth and success of their business.

The success of Fund IV can be attributed to the diversified investor base that spans across North America, Europe, and around the globe. Comprised of high-quality limited partners, including consultants, endowments, insurance companies, public pensions, family offices, asset managers, and funds of funds, the investor base reflects the confidence and recognition of New Heritage Capital's expertise and potential for growth.

Nickie Norris, Co-Founder at Heritage, emphasized the collaborative culture that lies at the heart of the organization's success. "We have built our organization around a culture of collaboration, and we are proud of our team, the founders and CEOs we work with, and the value we've created for our investors," Norris stated. This commitment to collaboration ensures that all stakeholders, including founders, investors, and the New Heritage Capital team, work together harmoniously towards shared success.

The services provided by New Heritage Capital go well beyond capital investment. With decades of experience in managing growth, the firm offers its partners strategic, operational, and financial guidance to help businesses reach their growth objectives. This comprehensive approach sets New Heritage Capital apart as more than just a financial partner but a trusted advisor focused on the long-term success of their portfolio companies.

As Fund IV comes to a close, New Heritage Capital acknowledges the invaluable contributions of Harris Williams, the exclusive placement advisor, and Latham & Watkins LLP, the fund counsel. These partnerships have played a significant role in ensuring the smooth and successful execution of the fund.

New Heritage Capital's closing of Fund IV with $438 million in commitments is a testament to their strong reputation, innovative investment structures, and commitment to empowering founder-owned businesses. With a proven track record and a dedicated team, New Heritage Capital continues to be a force to be reckoned with in the private equity industry. To learn more about their investment philosophy and success stories, visit their website at www.newheritagecapital.com.