Private equity firm Tower Arch Capital has reportedly stepped up its efforts to raise its $175m-targeting debut fund.
Tower Arch, which was launched last year by former HGGC executives, has recently launched a road show for institutional investors to finish raising the fund, said the Buyouts magazine, citing a source familiar with the fundraise.
Shannon Advisors is acting as a placement agent for the fund, according to the report.
Last month it was reported that Tower Arch, which is based in Salt Lake City, was nearing a close of between $75m and $85m.
The fund has been backed by Tower Arch’s founders and senior executives of portfolio companies that its founders backed at other firms, said Dow Jones.
Hunstman Corp founder and HGGC co-founder Jon Huntsman is also a limited person in the fund
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