HCAP Fund II, L.P.
United States of America
Last updated 12 May 2020, by Impactyield.
Developed countries (203) / More developed regions (202) / More developed regions (North America, Asia & Oceania) (153) / United States of America (112)
Founded in 2000, HCAP Partners LLC ("HCAP", formerly Huntington Capital) is a private equity firm focused on the lower middle market with a mission to generate top quartile returns while having a positive impact on underserved businesses and their communities. These results are evident in our financial performance and impact metrics. HCAP will continue its strong impact investing focus to provide good quality jobs with employee benefits through its portfolio companies for low to moderate income employees and the extension of companies operations into underserved communities thereby supporting a diverse workforce of LMI individuals and families. HCAP provides capital to “underserved” businesses that tend to employ low-to-moderate income and ethnic minority employees, are located in LMI zones, and/or are owned and operated by ethnic minorities. The Fund primarily provides growth capital, structured as Mezzanine Debt and/or Preferred Equity. The Fund's performance has allowed it to return 58% of all called capital and 45% of all committed capital within 7 years as of 6/30/15. The Fund has achieved an approximately 8% net IRR for Limited Partners since inception and 1.33x net cash investment multiple.
The principle objective of The Fund is to generate above average risk adjusted returns for our investors, provide the investment capital and resources to help our portfolio companies maximize their performance and enterprise value, and create a positive impact within the communities which we invest.
HCAP Fund II reports a Gross IRR through 6/30/15 of 15.59% and Net IRR of 8.02% including all Fees, Expenses and estimated GP Carry. As of 6/30/15 The Fund has returned 58.8% of all called capital and 44.5% of all committed capital (Vintage 2008 Fund).
The investments will generally be structured as mezzanine capital, and typically be in the form of loans in the $2 million to $7 million range. The Fund also provides growth capital in the form of preferred stock. Funds are typically used for growth oriented working capital, recapitalization, acquisition or for capital investment.
of track record
the year funded
Headquarters location: United States of America
Other funds managed by this asset manager: HCAP Fund III L.P.
Eradicate extreme poverty
Encourage companies to adopt sustainable practices and sustainability reporting
Double the improvement in energy efficiency
Expand and upgrade energy services for developing countries
Promote policies to support job creation and growing enterprises
Full employment and decent work with equal pay
Increase access to financial services and markets
Key performance indicators
Asset manager: HCAP Partners
Product track record: Fund has 16 years of track record
Target IRR: 15%
Committed Capital: 78,285,000 USD (US Dollar)
Target return category: Risk-adjusted market-rate of return
Fund domicile: United States of America
Product status: Closed - no longer investing
Style/Stage: Growth Stage, Mezzanine Finance
Inception year: 2007
Vintage year: 2008
Target region: Developed countries, More developed regions, More developed regions (North America, Asia & Oceania), United States of America
Target close date: n.a.
Product term: 10 year term
Assets under management: n.a.
Investment size: Min: 2,000,000; Max: 7,000,000; Avg: 3,500,000
Co-investment policy: LPs do not have priority, With LPs and non-LPs
Currency of investments: USD (US Dollar)
Currency for fund / product figures: USD (US Dollar)
Fund investments to date: 23
Fund investments to date exited or repaid: 13
Management fee: 2%
Carried interest: 20%
Hurdle rate: 8.0%%
GIIN Investors' Council Investment: Yes
Limited Partners / Investors: Hamilton Lane (CalPERS), INVESCO (CalSTRS), Credit Suisse(CalPERS), Macquarie NM Fund II (Northwestern Mutual Life), Allstate, State Farm, SAFECO, Pacific Life, Union Bank, and the FB Heron Foundation.
Limited Partner / Investor Type: Endowments/Foundations, Family Office, Pension Funds, Other Institutional Investors, Retail Investors
Phone number: 8582597654.00
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HCAP is a mezzanine debt and structured equity fund focused on the lower middle market with a mission to generate top quartile returns while having a positive impact on underserved businesses and their communities through the provision of good quality jobs with benefits for individuals at the LMI level. The Fund places a particular emphasis on companies located in low and moderate income areas (“LMIs”) and companies employing individuals residing in low and moderate income areas. Fund management believes these companies are underserved by private equity, venture capital and public markets and offer the potential for above average returns while benefiting the communities they do business in. Equally important, our portfolio company employees represent the diversity of the communities we invest in.