Houlihan Lokey Advises Garnett Station Partners

Transaction: Garnett Station Partners, GSP 4.0 GP, L.P., U.S. Lower Middle-Market Multi-Unit Consumer and Business Services, $850,000,000. Exclusive Placement Agent.

Houlihan Lokey is pleased to announce that GSP 4.0 Fund, L.P. (“GSP 4.0” or the “Fund”) closed oversubscribed at $850 million of commitments, exceeding its target of $750 million and reaching its hard cap.

Garnett Station Partners, LLC (Garnett Station), a New York-based principal investment firm, closed its fourth flagship fund, GSP 4.0. Garnett Station began fundraising in July 2022 with an initial target of $750 million. With the support of existing and new limited partners, GSP 4.0 held its final close in January 2023, six months after launching the Fund, reaching its hard cap at $850 million.

Despite the challenging fundraising marketplace, Garnett Station’s “all-weather” value-oriented downside protected growth strategy in the multi-unit consumer and business services sectors attracted commitments from a stable and diverse base of limited partners, including prominent institutions, endowments, foundations, insurance companies, consultants, family offices, and individuals. The closing of GSP 4.0 increases Garnett Station’s total capital under management to more than $2.0 billion.

Like its predecessor funds, GSP 4.0 will seek to provide capital, resources, and strategic support to U.S. lower-middle-market consumer, brick-and-mortar businesses with a particular emphasis on food and beverage, health and wellness, and services businesses. The Fund will continue to focus on partnering with founder-, family-, and entrepreneur-owned businesses with strong foundations and opportunities for outsized growth.

Houlihan Lokey served as Garnett Station’s exclusive advisor for the fundraise and arranged the private placement. This transaction highlights the Private Funds Group’s continued success delivering superior results in an extremely challenging fundraising market.

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