Goldner Hawn, a Minneapolis-based private-equity firm, has raised $289 million for a new fund. Capital commitments for the firm's seventh fund came in over its $250 million target.
"We are thankful for the support of our returning investors and are excited to welcome a group of new investors," said Joe Heinen, a partner at Goldner Hawn, in a statement.
Goldner Hawn investors include financial institutions, foundations, insurance companies, public pension funds, and family offices.
The firm was founded in 1989 and over the years has made investments in 40 key companies that it has used as platforms for growth either organically or through add-on investments.
The firm generally makes investments between $10 million to $30 million but will use its network to find co-investors that can increase an overall investment.
Goldner Hawn's companies have been in a variety of industries, principally industrial manufacturing, value-added distribution, consumer products and services and outsourced business services.
Proceeds of the fund will be used to invest in new portfolio companies and add-on investments while using the firm's time-tested strategy of investing in good management teams at companies that have solid finances and growth opportunities, the statement said.
Goldner Hawn is one of the largest and oldest private-equity firms based in the Twin Cities. It is currently invested in three Minnesota companies but also companies in the Midwest and central United States.