Daily News: August 21, 2012

Gridiron Capital Closes Second Fund With $425 Million

Gridiron Capital, a middle-market private equity firm, said it has closed its second fund, Gridiron Capital Fund II with $425 million in commitments. The firm will focus on buying controlling stakes in middle-market manufacturing, service, and specialty consumer companies in the U.S. and Canada.

The newest fund exceeded a target of $400 million, the firm said in a statement. Gridiron is based in New Canaan, CT.

Gridiron said with an original capital raising target of $400 million, the fund was well received by investors and accepted subscriptions up to its cap of $425 million. Gridiron said it successfully raised capital in Europe, North America and Asia with a cross section of leading limited partners, including endowments and foundations, insurance companies, public and private pension funds, fund of funds and high net worth individuals.