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Chicago Growth Partners
Chicago Growth Partners is a lower-middle-market buyout firm founded in 2004 by Robert Blank and John Reilly.
Chicago Growth Partners
Chicago Growth Partners is a Chicago-based private equity firm founded in 2004. It invests in mid-market companies in the US, primarily in consumer goods, education, healthcare, and technology.
General information
Firm type
Private Equity
Year founded
2004
AUM
$500M - $1,500M (Altss estimate)
Location
Region
North America
Country
United States
City
Chicago
Corporate office
Chicago, IL, United States
Principals
Robert Blank
Co-Founder & Managing Partner
John Reilly
Co-Founder & Managing Partner
David Chandler
Managing Partner
Devin Mathews
Partner
Sector focus
Frequently asked questions
Who runs investment decisions at Chicago Growth Partners?
Investment decisions are led by co-founders Robert Blank and John Reilly alongside Managing Partners David Chandler and Devin Mathews. The firm operates a partnership committee structure for all major investment approvals, consistent with its lower-middle-market private equity peer set.
How does Chicago Growth Partners source proprietary deal flow?
Chicago Growth Partners relies on a multi-decade network of regional intermediaries, industry executives, and former portfolio company operators. The firm targets founder-led businesses that are not broadly auctioned, often engaging owners 12-18 months before a formal process begins, which it credits with a majority of its closed transactions.
What investment stages does Chicago Growth Partners typically target?
The firm focuses on control buyouts and recapitalizations of profitable lower-middle-market companies with EBITDA between $3 million and $15 million. It does not invest in venture-stage or pre-profit businesses, nor does it pursue large-cap or minority-position growth equity outside of structured recap scenarios.
What is Chicago Growth Partners' known posture on co-investments alongside external GPs?
Co-investment is not a core program. Chicago Growth Partners typically leads transactions and builds syndicates selectively with a small circle of non-institutional, family-office, or high-net-worth co-investors on a deal-by-deal basis rather than maintaining a formal co-invest platform.
How is Chicago Growth Partners related to William Blair?
Chicago Growth Partners was formed when the principals of William Blair Capital Partners spun out in 2004 to create an independent firm. The existing fund vehicle was renamed, but there is no ongoing operational or financial relationship between the two entities.
Which sectors does Chicago Growth Partners explicitly avoid?
The firm does not invest in real estate, natural resources, financial services, or retail. Within healthcare, CGP generally avoids biotech, pharmaceuticals, and highly reimbursed single-procedure providers, preferring multisite healthcare service platforms with recurring revenue models.
What is the status of Chicago Growth Partners' fundraising?
As of the most recent public information, Chicago Growth Partners closed its third institutional fund in 2011 with approximately $450 million. The firm has not publicly announced a Fund IV, managing its active portfolio and a continuation vehicle formed in 2021 for selected legacy assets.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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