Rising Point Capital Management has closed its inaugural institutional fund, Rising Point Capital Management Fund I LP, at $325 million, above its $250 million target and above its initial hard cap.
Fund I was oversubscribed and reached its final close over six months. Its limited partners include pension plans, foundations, family offices and funds of funds, with additional commitments from members of the firm.
The new fund ends the firm’s run as an independent sponsor. From its founding in 2019 until now, Rising Point raised equity one transaction at a time. Over that period Rising Point has made 27 acquisitions — 9 platforms and 18 add-on acquisitions. The platforms span several sectors including industrial, infrastructure, energy transition, home services and specialty contracting.
Rising Point invests in US-headquartered companies with at least $10 million of revenue and $2 million of EBITDA. It takes majority positions in founder-, family- and management-owned businesses and in corporate carve-outs.
The firm’s first investment was A-Rent Test Equipment, an Illinois-based provider of electrical test equipment rentals and calibration services, in 2019. A-Rent supplies the instruments used to commission, maintain and repair medium- and high-voltage electrical systems. The company was sold to Bregal Sagemount in September 2026.
Also in 2019, Rising Point partnered with Prairie Capital to acquire Fairway Lawns, an Arkansas-based provider of residential lawn treatment and pest control services. Fairway was sold to Morgan Stanley Capital Partners in May 2022.
In April 2020, Rising Point acquired Conco Services, a Pennsylvania-based provider of specialty cleaning and non-destructive testing services for condensers and heat exchangers used by power generation and industrial customers.
That investment was followed in 2021 by PirTano Construction, an Illinois-based underground construction company serving the communications, sewer and water markets. PirTano provides fiber installation, directional boring, underground utility construction and heavy highway services.
Rising Point invested in Cinterra, formerly Directional Services, in May 2022. The North Carolina-based contractor builds electrical infrastructure for utility-scale solar, battery storage and other renewable energy projects.
In April 2024, the firm acquired ABC Plumbing, Sewer, Heating, Cooling & Electric, an Illinois-based residential services company providing plumbing, HVAC, electrical, sewer and drain services. Later in 2024, Rising Point acquired JDS, a Georgia-based infrastructure contractor specializing in underground water, sanitary sewer and stormwater pipeline systems.
Rising Point’s earlier investments also included Statewide Safety Systems, a California-based provider of temporary traffic control services, equipment rental, traffic safety products and sign manufacturing, that was acquired in May 2018. Statewide was sold in August 2021 to Area Wide Protective, a portfolio company of Kohlberg & Company (Rising Point’s buy of Statewide predates the firm’s 2019 founding and was part of its founders’ prior track record with Sterling Partners).
Rising Point made the first investment from Fund I in July 2026 with the acquisition of A-1 Roofing Company, a Chicago-area-based commercial roofing contractor. A-1 provides roof replacement, repair and maintenance services, patching and new construction, with a focus on complex commercial roofing projects for apartment and condominium buildings, hospitals, hotels, schools, office towers, churches and government buildings across the Midwest.
A-1 Roofing was founded in 1910 and was owned by the same family for three generations before Rising Point’s investment.
Rising Point was founded in 2019 and is led by four partners. Co-founders Michael Drai and Justin Marku both came from the business services group at Chicago-based Sterling Partners, where Mr. Drai was a managing director and co-head of the group and Mr. Marku was a principal.
Marc Perez joined Rising Point in 2023 after serving as chief executive and president of Menper Group, a family-owned and Miami-based distributor of over-the-counter pharmaceuticals, personal care and wellness products focused on Hispanic consumers. Natalie Greene joined in 2024 from healthcare services investor RiverGlade Capital, where she was a principal and the firm’s first employee. Mr. Perez also worked at RiverGlade, and both began their private equity careers at Sterling.
“Since our founding, we have focused on investing in compelling field-based services companies that are looking for a strategic and collaborative partner to help them scale their platforms and drive meaningful long-term growth,” said the partners of Rising Point in a released statement. “In our view, what sets us apart is our transparent, partnership-oriented mindset combined with our extensive experience developing data-driven strategic plans to help companies scale while preserving the foundation that made them successful.”
Rising Point raised its fund in a hard market for new managers. Buyout fundraising fell 16% to $395 billion in 2025, and the number of buyout funds closed fell 23%, a fourth straight annual decline, according to Bain & Company. Limited partners have favored large, established managers with consistent cash distributions.
Debut funds have been hit harder. First-time private equity funds raised about $7 billion across 48 vehicles in 2025, the fewest since 2010 and down from roughly $54 billion in 2022, according to PitchBook. Emerging managers’ share of US private equity capital fell to 11.6% in 2025 from 18.6% in 2016.
M2O Private Fund Advisors was the placement agent on this fundraise and Kirkland & Ellis provided legal services.