KRG Raising $1.5 Bln for Next Mid-Market Fund

KRG Capital Partners is seeking $1.5 billion for its next fund that invests in middlemarket companies, according to two people familiar with the situation.

KRG Capital Fund V LP is targeting less than the around $2 billion the prior fund gathered in 2007. The firm sent out marketing materials for the fund last week, one of the people said.

The Denver-based firm invests in companies with annual revenue of $35 million to $400 million. KRG targets various industries including advertising and marketing services, packaging and labeling, aerospace defense and government services, and construction materials and services. Theresa Shelton, chief operating officer, declined to comment.

Recent realizations include dividend recapitalizations of Fort Dearborn Co., a supplier of decorative labels, and Olson, an agency that builds online communities, according to one of the people. KRG in February sold Liberty Dialysis Holdings Inc., a provider of kidney health services, to Fresenius Medical Care.

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