Tower Arch Capital nears halfway point for debut fund

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salt lake city_lrgSalt Lake City-based mid-market firm Tower Arch Capital is reportedly nearing a close of between $75m and $85m for its debut fund.

The fund, which is targeting $175m, has received support from Tower Arch’s founders and senior executives of portfolio companies that its founders backed at other firms, said Dow Jones, citing a person familiar with the offering.

Hunstman Corp founder and HGGC co-founder Jon Huntsman is also a limited person in the fund, according to the report.

In August last year it was reported that HGGC was planning to launch a second fund.

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