# Northern Lakes Capital

Northern Lakes Capital is a Private Equity based in Minneapolis, United States.

## Overview

- **Organization type:** Private Equity
- **Headquarters:** Minneapolis, United States
- **Region:** North America
- **Address:** 150 South 5th Street, Suite 2600, Minneapolis, MN 55402, United States
- **Founded:** 2021
- **Assets under management:** Undisclosed
- **Website:** northernlakescapital.com
- **LinkedIn:** https://www.linkedin.com/company/northern-lakes-capital

## Regulatory record

- **CRD number:** 315975
- **SEC file number:** 801-122103
- **Registration status:** Registered
- **Reports private funds:** Yes
- **IAPD record:** https://adviserinfo.sec.gov/firm/summary/315975

## About

Northern Lakes Capital is an SEC-registered investment adviser in Minneapolis, MN, registered since 2021. The firm manages $575 million in regulatory assets. It has 11 employees and 10 investment advisers.

## Sectors

- Business Services
- Industrials

## People

- Charles B. Lannin — Partner
- Joel V. Grebenick — Partner
- Kasey T. Sime — Partner
- Kelly J. Horner — Chief Financial Officer and Chief Compliance Officer
- Dean S. Wikenheiser — Managing Director

## Questions

### Does Northern Lakes Capital participate in fund commitments or only direct deals?

Northern Lakes Capital makes direct control equity investments and does not market itself as a fund-of-funds or LP investor in third-party vehicles. Its stated model — control buyouts, management buyouts, and recapitalizations for its own balance sheet — means capital goes straight into portfolio companies rather than into committed blind-pool funds. The firm has not publicly disclosed raising a multi-investor fund vehicle.

### Which sectors does Northern Lakes Capital explicitly avoid?

The firm specifically carves out six verticals: restaurant and retail, high tech, medical device, oil and gas, and basic commodities. This negative screen applies most rigidly to stand-alone platform investments, though the firm’s buy-and-build strategy, which targets outsourced service industries, effectively sits outside those excluded sectors as well.

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

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