BREAKING NEWS: Utah's Cynosure Group Closes Blockbuster $750 Million "Growth Equity" Fund, Less Than 48 Hours After Donald Trump is Sworn-In as the 47th President of the United States

The $750 million fund is likely the largest ever raised by a private firm based in Utah.

Less than 48 hours after Donald J. Trump was inaugurated as the 47th President of the United States, Salt Lake City, Utah-based Cynosure Group announced it has closed a blockbuster $750 million "growth equity" fund.

Based upon our data at Utah Money Watch, the $750 million total is likely the largest amount ever raised by any independent financial institution based in Utah.

According to the news release published by Cynosure announcing the closure of what it has named as Cynosure Partners III:

"The fund targets traditional industries where growth capital has typically been less available, including financial services, business services & industrials, and consumer services."

Cynosure Group is comprised of four primarily business lines:

1. Cynosure Partners which focuses on private growth equity and private Credit;
2. Cynosure Capital Management which focuses on Foundation and Endowment portfolio management;
3. Cynosure Wealth Advisors which supports the investment needs of ultra-high-net-worth families, entrepreneurs, and senior executives; and
4. Cynosure Strategies, which offers a market-neutral approach to strategic hedge fund investing.

According to Randal Quarles, Chairman and Co-Founder of The Cynosure Group and former Vice Chairman of the Federal Reserve,

“The oversubscription of this fund at a time when many firms have found fundraising to be challenging underscores the confidence of a wide range of investors in Cynosure’s differentiated approach to growth equity.

"We embrace the opportunity to further our strategy, partnering with founders and management teams to build enduring value in exceptional businesses."

Investors and limited partners that participated in CFP III included prominent endowments, foundations, family offices, public and private pension funds, insurance companies, consultants, fund of funds, and RIAs (Registered Investment Advisors).

As of 30 September 2024, Cynosure says it had $5.8 billion is assets under management (AUM).

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