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Press Releases

Spire Capital Partners, L.P. Has Final Closing on Private Equity Fund

4/11/2001

New York, NY -- Spire Capital Partners, L.P. announced today the final closing of its fund, with capital commitments totaling $260 million. Spire will use the proceeds of its offering to provide growth capital to companies in the media and communications industries.

Commenting on Spire's final closing, Bruce M. Hernandez, a managing member of the fund, stated, "We are very pleased with the outcome of our fund raising efforts, and we look forward to devoting our full time and resources to investing the fund's capital."

Andrew J. Armstrong, Jr., managing member, further stated, "Spire has assembled a diverse, high-quality group of limited partners who are extremely knowledgeable in our targeted industry sectors. Their expertise represents an invaluable asset to our fund."

Spire's limited partners include numerous media and communications executives as well as highly regarded institutional investors. Significant institutional investors include First Union Investors, Inc., CIBC Capital Corporation, BMO Halyard Capital Fund, Dresdner Kleinwort Capital, J.P. Morgan Partners, Mellon Ventures Fund I, LLC, Northeast Utilities, the Private Equity Group of WestAM, Citizens Capital, Inc., General Electric Capital Corporation, Vulcan Ventures, and Bessemer Trust Company, N.A.

For additional information on Spire Capital Partners, visit their website at www.spirecapital.com.