Granite Peak Capital Fund IV
Vintage 2022 · M&A / Growth Equity · $2.75B Committed
Complexity as Alpha: M&A-Driven Value Creation
Fund IV targets sectors where operational improvement and strategic bolt-on acquisitions create compounding returns. We focus on $200M-$800M enterprise value businesses with defensible market positions and fragmented competitive landscapes amenable to consolidation.
| LP | Type | Commitment | Called | NAV | TVPI |
|---|---|---|---|---|---|
| CalPERS | Pension | $400M | $280M | $336M | 1.80x |
| Yale Endowment | Endowment | $300M | $210M | $252M | 1.80x |
| ADIA | SWF | $350M | $245M | $294M | 1.80x |
| Hamilton Lane FoF III | FoF | $250M | $175M | $210M | 1.80x |
| Pritzker Family Office | Family Office | $200M | $140M | $168M | 1.80x |
| MetLife Insurance | Insurance | $300M | $210M | $252M | 1.80x |
| Ford Foundation | Foundation | $150M | $105M | $126M | 1.80x |
| Ontario Teachers | Pension | $250M | $175M | $210M | 1.80x |
Acquire 3-5 specialty physician practice management platforms. $200M+ combined EBITDA target.
Source corporate divestitures in automation, sensors, and industrial IoT. Complexity discount arbitrage.
Insurance brokerage and wealth management platform builds. Recurring revenue focus.
Position 3 portfolio companies for 2026 exits. Combined NAV $890M. Strategic + sponsor-to-sponsor tracks.
“Fund IV is positioned at the intersection of complexity and value. Our M&A-driven strategy targets sectors where operational improvement and strategic bolt-ons create compounding returns. We expect to return 2.0x+ net to our limited partners.”
— James Hartwell, Managing Partner · Q4 2025 LP Letter