TJC LP Secures $2.1 Billion Continuation Fund

TJC LP, a private equity firm focusing on North American businesses, has closed its second continuation fund at $2.1 billion.

This fund, which is an extension of the firm's Resolute Fund III and IV, will provide the necessary capital to support five key portfolio companies as they continue their growth trajectory.

The structure of this continuation fund offers a win-win for TJC’s investors. Those who want to cash out early can do so at market-driven prices, while others can reinvest and give their money a little more time to grow.

Think of it as choosing between hitting the ATM now or letting your cash sit a bit longer, but with the promise of better returns.

Rich Caputo, Chairman and Chief Executive Partner of TJC said:

“As we drive ongoing acquisition integration and operational initiatives within the Continuation Fund portfolio, we believe this transaction will enable us to provide the Fund’s portfolio companies with greater resources, time and flexibility to execute on these strategies which will continue to build shareholder value, we have given our investors an option to take accelerated liquidity at a market-driven price while allowing the portfolio companies the opportunity to continue to pursue their long-term growth plans.”

TJC’s CEO, Rich Caputo, with an estimated net worth in the upper millions, explained that the new fund provides the company with the time and resources to integrate acquisitions and push forward operational initiatives.

With $31.4 billion in assets under management, TJC’s leadership has been at the helm for over 22 years and has navigated over 80 investments.

This transaction also saw strong support from new investors, led by AlpInvest, a subsidiary of Carlyle, which added a dash of extra capital to the fund. It’s clear that investor confidence in TJC remains high, with their continued support despite current economic uncertainty.

While TJC’s move is undoubtedly a big one for the firm, it's just another day in private equity—where you play the long game to see big payoffs.

The firm is headquartered in New York but has a presence in other key U.S. cities, including Chicago, Miami, and Stamford.

In a world where liquidity is king, this fund demonstrates TJC’s savvy in offering investors both flexibility and growth opportunities, proving once again that patience and good timing are key.