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Private equity firm NRD Capital Management just announced a new $100 million fund to invest in more restaurants and other emerging franchise brands throughout the world.
The Atlanta-based firm has been investing in franchised and multi-location businesses since 2014. The new NRD Partners II L.P. (“NRDP II”) will continue the firm’s strategy of investing in restaurant concepts, but now will add new and emerging verticals such as healthcare franchising, according to a statement. The strategy is to establish a leadership position in the growing field of medical-related franchising.
“We are extremely pleased at how quickly we were able to raise this fund as it is a testament to the confidence our limited partners have in our unique investment philosophy. We greatly appreciate the continued support from our Fund I investors – 91 percent of whom have also invested in Fund II, many with significantly higher commitments,” said Aziz Hashim, managing partner of NRD. “We are also delighted to welcome a number of new investors to Fund II. In fact, interest has been so great that the fund is oversubscribed and has a waiting list of additional interested investors.”
Hashim said the firm’s operating expertise, wide network of franchisees, and partnership approach to interacting with their portfolio companies has given them the unique ability to enable accelerated, but responsible, growth for brands.
“We look forward to making collaborative equity investments to enhance our portfolio and create opportunities for entrepreneurs through franchising,” he said.
So far, NRD has acquired two multi-location franchise brands, Frisch’s Big Boy and Fuzzy’s Taco Shop, which have generated $450 million in annual system revenues from 220 locations in 12 states. Both brands are currently in NRD’s portfolio. For more information please visit www.nrdcapital.com.