North Castle raises Fund VI in just over six months, unveils two deals
August 11, 2016
North Castle Partners has raised $300 million for its sixth fund and wasted no time putting that capital to use. Along with the fund close, the firm announced investments in JTL Enterprises (aka HydroMassage), a provider of hydrotherapy massage systems, and SLT Group, an operator of boutique fitness studios. Both align with NCP's stated goal of doing more with its deals than pursuing big returns.
North Castle is all about investing with a conscience. The firm focuses its activity on consumer companies that promote a healthy and sustainable lifestyle, ranging from the personal care sector to recreation & sports to nutrition—its current portfolio features fitness franchises Curves and Jenny Craig and organic foods provider Sprout, while past investments include Naked Juice and vitamin provider Leiner Health Products. If this newest fundraising is any indication, it’s a model of which LPs approve: North Castle Partners VI, the firm's largest vehicle to date, was oversubscribed and raised in just over six months.
PitchBook users can view NCP fund performance metrics here.