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NYSTRS backs CapStreet’s fourth fund

25 Mar 2014

new york 5_sqNew York State Teachers’ Retirement System (NYSTRS) has backed CapStreet Group’s latest fund.

The pension system has committed $25m to CapStreet IV, said the Buyouts magazine.

Earlier this year AltAssets reported that the fund had raised $249.45m from 51 LPs.

CapStreet IV is already larger than the firm’s third fund, which was closed with commitments of $178m in November 2010.

The Houston-based firm is focused on buying stakes in companies based in Texas and other Sunbelt states with enterprise values of less than $150m.

Since its launch in 1990 the firm has invested in 35 companies, which have completed more than 250 add-on deals.

Last year CapStreet completed a majority recapitalisation of TF Hudgins in partnership with the engineering group’s senior management.

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