RFE Investment Partners beats $100m

The Connecticut-based small market private equity firm is targeting $300m for investments in the healthcare, niche manufacturing and business services industries.

RFE Investment Partners has hit $104 million on its eighth investment partners fund, which is targeting $300 million. Placement agent Pinnacle Trust Partners is an associated broker-dealer on the fund, according to documents filed with the US Securities and Exchange Commission. 

The firm and Pinnacle did not return requests for comment. 

RFE typically invests in small North American companies with initial enterprise values between $20 million and $100 million. The firm focuses on control investments, targeting $10 million to $25 million in equity capital per transaction in the business services, niche manufacturing and healthcare services industries. 

The New Hampshire Retirement System re-upped $20 million with the firm earlier this year. Other LPs that have invested with RFE in the past include the American Bible Society, the Connecticut Retirement Plans and Trust Fund, Haverford College and KeyCorp, according to sister data provider Private Equity Connect.  

The firm’s previous fund, RFE Investment Partners VII, raised $212 million in 2009, short of its $250 million target. RFE Investment Partners VI raised $140 million in 1998.

RFE was founded in 1979 and has completed 65 small buyout investments, according to its website. The Connecticut-based firm is led by managing directors Mike Foster, Don Juricic, Ned Truslow, Peter Reiter and Jim Parsons.