Nate Good elevated to Managing Partner pursuant to long-planned leadership transition
CHICAGO – June 30, 2021 – Prairie Capital (“Prairie”) is pleased to announce the successful closing of Prairie Capital VII (“Fund VII”) with total commitments at the hard cap of $450 million. Fund VII was significantly oversubscribed, closing less than three months after its official launch in February 2021. Fund VII received strong support from Prairie’s existing investor base, as well as a select group of new, high quality institutional and high net worth investors. Fund VII included almost $40 million of invested capital from the General Partner and Prairie portfolio company founders, managers, and board members. The Prairie team is very grateful to its loyal existing investor base and humbled by the existing and new investor interest in Fund VII.
Fund VII represents a continuation of Prairie’s proven investment strategy of partnering with talented company founders and management teams to acquire controlling interests in successful, growth-oriented, lower middle market companies in targeted industry subsectors.
Following the closing of Fund VII, Prairie’s long-planned leadership transition became effective. After nearly 25 years, co-founders Steve King and Bryan Daniels transitioned fund management duties to the non-founding partners: Nate Good, Patrick Jensen, Chris Killackey, and Sean McNally. Nate Good, who joined Prairie in 2002, has been elevated to Managing Partner.
King and Daniels will continue as partners and investment committee members for Prairie VII, and retain management responsibility for the remaining portfolio companies in Prairie Capital VI and Prairie Capital V.
For more information, please contact Nate Good at ngood@prairie-capital.com.
ABOUT PRAIRIE CAPITAL
Founded in Chicago in 1997, Prairie Capital is a private equity fund with a long and successful track record of scaling growth-oriented, lower middle market companies in partnership with talented founders and management teams. Since inception, Prairie has invested over $1 billion in 98 platform companies. Prairie makes control equity investments in founder-owned companies that require company-building investments to evolve into scalable platforms capable of sustaining accelerated growth. Prairie targets companies with $4 to $12 million in EBITDA that participate in growing subsectors within business services, consumer, education, healthcare, industrial, and technology. More information about Prairie can be found at www.prairie-capital.com.