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Florida-based Franchises The Brass Tap and Beef ‘O’ Brady’s Acquired by CapitalSpring

CapitalSpring exceeds target of $500 million for its fifth fund

By Renee Furla1851 Contributor
5:17PM 03/16/21

Richard Fitzgerald, co-founder of CapitalSpring, shared his insights on the final closing of its fifth fund in a New York Business Journal piece entitled “Brass Tap investor CapitalSpring raises $725 million for new fund.”

CapitalSpring’s initial target of $500 million for investments was exceeded by 45 percent. With this fund, CapitalSpring was able to close a deal with Los Angeles-based private equity firm Levin Leichtman, who sold the two Tampa, Florida-based franchises, The Brass Tap and Beef ‘O’ Brady’s, to CapitalSpring.

“We are pleased to have attracted strong demand from high quality limited partners for Fund V, and our team remains confident that our differentiated strategy and unique focus on the restaurant industry will continue to generate attractive risk-adjusted returns for our investors,” said CapitalSpring co-founder Richard Fitzgerald.

Read the full story here.

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