WASHINGTON, D.C. – Arlington Capital Partners is on the fund raising trail for its first vehicle, Arlington Capital Partners L.P., targeted at $425 million to $450 million. A final close is expected in late November, said Jeffrey Freed, a general partner at the firm.
Arlington Capital was founded in March when fund raising began for its first vehicle, and the firm held an initial close on more than $300 million at the end of July.
Arlington Capital expects to back about nine to 12 late-stage information products and services companies mainly in the United States, Canada and Western Europe, with individual investments ranging from $10 million to $75 million.
The firm’s four partners are Paul Stern, a co-founder of Thayer Capital Partners; Raymond Smith, former chairman and chief executive officer of Bell Atlantic Corp.; Robert Knibb, former vice president at MacAndrews & Forbes, the investment vehicle for Ronald Perelman; and Freed, former president of Westbury Capital Partners.
Given the operating experience of the firm’s staff, Arlington Capital will make value-added investments in both healthy middle market companies and select under-managed operations in the information products and services arena, Freed said.
“We found a universe of investors who responded very well to our investment thesis, which capitalizes on our principals’ mix of private equity and operating perspectives,” he added.
The firm’s limited partners include a number of leading pension funds, institutional investors and a handful of high-net-worth individuals, including a number of telecom and information technology executives.
The firm’s four general partners collectively will invest $10 million in the fund.