# Chicago Growth Partners

Chicago Growth Partners is a Private Equity based in Chicago, United States.

## Overview

- **Organization type:** Private Equity
- **Headquarters:** Chicago, United States
- **Region:** North America
- **Address:** Chicago, IL, United States
- **Founded:** 2004
- **Assets under management:** $500M - $1,500M (Altss estimate)
- **Website:** cgp.com
- **LinkedIn:** https://www.linkedin.com/company/chicago-growth-partners

## Regulatory record

- **Reports private funds:** No

## About

Chicago Growth Partners (CGP) is a private equity firm founded in 2004. It invests in growth and mature companies in the US, with a focus on the Midwest, Northeast, Southeast, and West. CGP primarily engages in acquisition and expansion financing, buyouts (LBO, MBO, MBI), and invests $5-$40 million in companies.

## Sectors

- Healthcare Services
- Business Services
- Industrial Tech

## People

- Robert Blank — Co-Founder & Managing Partner
- John Reilly — Co-Founder & Managing Partner
- David Chandler — Managing Partner
- Devin Mathews — Partner

## Questions

### 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.

### 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.

## Related profiles

- [Chepstow Capital](https://altss.com/profile/chepstow-capital)
- [Chief United Investment](https://altss.com/profile/chief-united-investment)

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Last updated: 2026-06-03T20:00:00.000Z

Canonical page: https://altss.com/profile/chicago-growth-partners

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