ROWAYTON, Conn., Dec. 08, 2020 (GLOBE NEWSWIRE) -- Eaton Partners, one of the world’s leading private capital advisory and fund placement firms and a wholly owned subsidiary of Stifel Financial Corp. (NYSE: SF), is pleased to have acted as the exclusive placement agent for Crossplane Capital’s first institutional fund.
Crossplane Capital (“Crossplane”), a Dallas-based private equity firm that targets control investments in niche manufacturing, value-added distribution, and industrial business services companies, announced the final closing of its inaugural fund, Crossplane Capital Fund, L.P., at its $275 million hard cap.
The oversubscribed fund received strong support from a diverse range of institutional investors, including top-tier endowments, foundations, asset managers, family offices, and pension plans.
Crossplane was founded in October 2018 by Partners Brian Hegi and Ben Eakes, Managing Director Mike Sullivan, and Operating Partner Ingrid West, to invest control equity into companies with up to $15 million of EBITDA that are either family owned and seeking a partner or involved in a complex situation.
“Crossplane Capital employs an operationally intensive investment strategy within the lower middle market,” said Eric Deyle, Managing Director at Eaton Partners. “The team excels in complex situations and at partnering with family-owned business to unlock value and create sustainable competitive advantages."
“Crossplane is one of those rare firms where culture is a strategic advantage,” noted David Welp, Managing Director at Eaton Partners. “Brian, Ben, Mike, and Ingrid have perfected their operating and partnership model together for the better part of the last decade. It was a pleasure working with the Crossplane team on its inaugural raise.”
“With over 70% of the capital raised after the COVID-19 shutdown hit the U.S. in March of 2020, we are both humbled and grateful for the support of our strong investor base and partnership with Eaton,” said Brian Hegi, Partner and Co-Founder at Crossplane. “Eaton’s cycle-tested experience and responsiveness to changing and difficult market conditions proved to make the difference during our inaugural fund raise.”
“When the shutdown hit, Eaton immediately changed lanes and shifted gears to help power us home,” added Ben Eakes, Partner and Co-Founder at Crossplane. “Eaton acted as owners, with a passion and conviction to overcome the fundraising hurdles created by this pandemic.”
Since its inception, Eaton Partners has been a market leader in raising first time funds, having successfully closed 44 first-time funds, totaling $27 billion in aggregate capital commitments.
About Eaton Partners
Eaton Partners, a Stifel Company, is one of the world’s largest capital placement agents and fund advisory firms, having raised more than $140 billion across more than 140 highly differentiated alternative investment funds and offerings. Founded in 1983, Eaton advises and raises institutional capital for investment managers across alternative strategies – private equity, private credit, real assets, real estate, and hedge funds/public market – in both the primary and secondary markets. Eaton Partners maintains offices and operates throughout North America, Europe, and Asia.
Eaton Partners is a division of Stifel, Nicolaus & Company, Incorporated, Member SIPC and NYSE. Eaton Partners subsidiary Eaton Partners (UK) LLP is authorized and regulated by the Financial Conduct Authority (FCA). Eaton Partners subsidiary Eaton Partners Advisors (HK) Limited is approved as a Type 1-licensed company under the Securities and Futures Commission (SFC) in Hong Kong. Eaton Partners and the Eaton Partners logo are trademarks of Eaton Partners, LLC, a limited liability company. ® Eaton Partners, 2020.
About Crossplane Capital
Founded in 2018, Crossplane Capital is a Dallas-based private equity firm that makes control investments in niche manufacturing, value-added distribution and industrial business services companies. The firm seeks to partner with lower middle-market companies to enhance financial performance and generate strategic value creation. For more information, please visit www.crossplanecapital.com.
About Stifel
Stifel Financial Corp. (NYSE: SF) is a financial services holding company headquartered in St. Louis, Missouri, that conducts its banking, securities, and financial services business through several wholly owned subsidiaries. Stifel’s broker-dealer clients are served in the United States through Stifel, Nicolaus & Company, Incorporated, including its Eaton Partners business division; Keefe, Bruyette & Woods, Inc.; Miller Buckfire & Co., LLC and Century Securities Associates, Inc. The Company’s broker-dealer affiliates provide securities brokerage, investment banking, trading, investment advisory, and related financial services to individual investors, professional money managers, businesses, and municipalities. Stifel Bank and Stifel Bank & Trust offer a full range of consumer and commercial lending solutions. Stifel Trust Company, N.A. and Stifel Trust Company Delaware, N.A. offer trust and related services. To learn more about Stifel, please visit the Company’s website at www.stifel.com. For global disclosures, please visit https://www.stifel.com/investor-relations/press-releases.
Media Contacts
Neil Shapiro, +1 (212) 271-3447
shapiron@stifel.com
Jeff Preis, +1 (212) 271-3749
preisj@stifel.com