Princeton Equity Group, a private equity firm focused on partnering with leading franchisor and multi-location businesses, announced Sept. 29 the first and final closing of Princeton Equity Partners III, L.P., with $1.3 billion in total commitments.
Fund III was significantly oversubscribed in just two months and is more than twice the size of its predecessor. The fund received substantial continued support from Princeton’s existing limited partners alongside new commitments from U.S. and international institutional investors, including pension plans, endowments, foundations, sovereign wealth funds, family offices, insurance companies and asset managers.
The fund surpassed its $875 million target, expanding Princeton’s capacity to partner with leading franchisor and multi-location businesses.
Fund III will continue the strategy Princeton’s team has pursued since 2006. Princeton seeks to partner with talented entrepreneurs with outstanding companies and support them with the firm’s capital, industry expertise, operating resource group, GrowthEdge and the firm’s proprietary AI-enabled technology platform, FusionPoint.
“For nearly two decades, our team has partnered with high-quality, often founder-led, management teams who care deeply about building market-leading, franchisor and multi-location businesses,” said Jim Waskovich, co-founder and managing partner of Princeton Equity Group. “These companies combine great people, strong unit economics, recession resiliency, and an ability to stand the test of time. Fund III gives us an even greater ability to support these kinds of businesses and their leaders.”
Princeton’s team has invested in more than 30 leading franchisor and multi-location businesses including Amped Fitness, Barry’s, D1 Training, Ellie Mental Health, European Wax Center, Five Star Franchising, KidStrong, Massage Envy, Pirtek, StretchZone and Strickland Brothers.
Lazard served as exclusive placement agent for Fund III. Proskauer Rose LLP served as legal counsel to Princeton.
