Huron Capital Partners announced that it had recently closed a US$500 million fund. Detroit-based Huron Capital Partners started in 1999 with a US$72 million fund. The firm, since then, has grown into one of Michigan's biggest private equity groups. The firm currently specializes in investments that range between US$20 and US$50 million. Their investments are mostly made in companies with high-growth potential and those that are in need of fresh capital. Family business successions and corporate spinoffs are some of the firm's primary targets.

It previously completed two other funds worth US$185 million and US$385 million. After the latest funding round, the private equity firm will now have around US$1 billon under management. Today, the firm has controlling stake in more than 60 companies.

Huron Capital Partners plans to use the US$500 million investment vehicle over the next few years. The amount is expected to be deployed in 15 new investment platforms. Brian Demkowicz, Huron Capital Partners co-founder, described his firm's investment approach as industry agnostic that focuses more on the prospect of rapid growth. "We like businesses where you can carve out an advantage," he said.