Princeton Equity Group Raises $1.3 Billion Fund III at Hard Cap

Oversubscribed fund surpasses its $875 million target, expanding Princeton’s capacity to partner with leading franchisor and multi-location businesses

PRINCETON, N.J. & DALLAS--(BUSINESS WIRE)-- Princeton Equity Group (“Princeton” or the “Firm”), a private equity firm focused on partnering with leading franchisor and multi-location businesses, today announced the first and final closing of Princeton Equity Partners III, L.P. (“Fund III”), with $1.3 billion in total commitments.

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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.

Fund III will continue the strategy Princeton’s team has pursued since 2006. Princeton seeks to partner with talented entrepreneurs who have outstanding companies and then support them with the Firm’s capital; extensive industry expertise; dedicated operating resource group, GrowthEdgeTM; and the proprietary AI-enabled technology platform utilized by the Firm, FusionPointTM.

“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.”

“We’re grateful for the continued support of our existing investors and pleased to welcome new institutional partners to Fund III,” said Doug Kennealey, Co-Founder and Managing Partner of Princeton. “The fund marks a meaningful expansion of our investor base, particularly in Europe, along with new relationships with global consultants and leading endowments. We see this support as confirmation of both our longstanding partnerships and Princeton’s differentiated position with institutional investors globally.”

Princeton’s team has invested in over 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.

About Princeton Equity Group
Princeton Equity Group is among the most experienced franchisor and multi-location investors in the United States, managing approximately $3.0 billion in assets, including Fund III commitments. Princeton views each investment as a long-term, supportive business partnership with founders and management teams. Over a 20-year history, Princeton’s team has developed specialized operating and proprietary resources to help its partner companies scale. For more information, visit www.princetonequity.com.

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Media Contacts:
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Source: Princeton Equity Group

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