Private equity firm High Road Capital Partners has promoted principal Ben Schnakenberg to partner.
Schnakenberg joined the New York-based firm in 2008 as an associate and has been involved in six platform acquisitions, nine add-on deals and one exit.
Prior to joining High Road, Schnakenberg served as a senior vice president at LaSalle Bank.
High Road Capital Partners managing partner Bob Fitzsimmons said, “Ben has proven himself to be a highly capable investor who exemplifies our ‘high road’ business philosophy.
“This promotion reflects Ben’s contribution to the growth and success of our portfolio companies and the firm.”
High Road was launched in 2007 and currently manages more than $470m of committed capital. It targets businesses with revenues of $10m to $100m and an EBITDA of between $3m and $10m.
A week ago High Road closed its second fund on its $320m hard cap, beating the initial target of $200m.
AltAssets reported in August that High Road had hiked the target for its latest buyout fund by 50 per cent after surging past the $200m mark.
The fundraise got a boost from two strong exits from the firm’s $150m debut fund raised in 2008.
The firm generated a 2.6-times cash multiple on its first investment by selling Milwaukee Gear Company for $80m in February, and a 3.1 times return from exiting medical transcription business Accentus in December 2012.
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