Guardian Capital cruises to $282m Fund III hard cap despite Covid-19 impact

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Guardian Capital Partners has picked up $282m for the hard cap final close of its third flagship fundraise, six years after closing its predecessor vehicle.

The new Guardian Capital Partners Fund III vehicle is a significant step up from the $153m Fund II, having picked up support from several new institutional investors, the firm said.

Fund III has already been tapped to buy Western Shelter Systems last October and Flat River Group in November.

Firm co-founder and managing partner Peter Haabestad said, “To reach our hard cap during a global pandemic is a testament to our high-quality team at Guardian.

“We sincerely appreciate the incredible support of our LPs and welcome our new LPs, many of whom worked hard to complete their diligence processes after lockdowns started.”

Scott Evans, fellow co-founder and managing partner, added, “This is an exciting time to be investing as companies begin to rebound and deal with new challenges, including changing consumer behavior, ESG opportunities, sourcing issues, new channel strategies, and workforce management.

“We built Guardian with the goal of delivering superior returns to our investors, and we believe that demand for Fund III reflects limited partner confidence in our ability to execute on Guardian’s successful strategy.”

Guardian said that in conjunction with the fundraise it had added two partners, Adrian Ironside and Ryan Northington, who will both lead investments in Fund III.

Shannon Advisors acted as the exclusive placement agent for the Fund III raise.

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