HCP Press Releases
January 8, 2009
HCP Completes Initial Closings on Its Second Hispanic Focused Fund
CHICAGO, January 8, 2009 – HCP & Company (“HCP”) launched its second fund, Hispania Private Equity II, L.P. (Fund II), on October 15, 2008 and held a subsequent closing representing aggregate committed capital of over $105 million. HCP is targeting $120 million to $150 million for Fund II.
Following the success of its predecessor fund, Fund II will make growth equity and buyout investments in strategically positioned lower-middle market companies predominantly engaged in providing goods and services to the rapidly growing Hispanic demographic in the U.S. and Puerto Rico. Fund II is designed to invest in companies with compelling value propositions, proven management teams, positive cash flow, and annual revenues in excess of $10 million. Fund II will invest up to approximately $20 million per platform investment.
Returning investors to Fund II include Verizon’s Pension Fund, the Municipal Employees’ Annuity & Benefit Fund of Chicago and the Public School Teachers’ Pension & Retirement Fund of Chicago. In addition, new fund of funds investors to Fund II include Centinela Capital Partners on behalf of CalPERS via Capital Link Fund II, Credit Suisse’s Customized Fund Investment Group, Fairview Capital Partners on behalf of the Connecticut Retirement Plans & Trust Funds and the New York City Employee Retirement System, and two fund-of-funds managed by Muller & Monroe Asset Management, LLC.