Private Equity Analyst, June 2002

CASTANEA PARNTERS, NEWTON, MASS., founded by two former publishing executives, has closed a $75 million debut fund, Castanea I. Managing Partners Brian Knez and Robert Smith bankrolled the fund using their profits from the $4.5 billion sale last year of publishing house Harcourt General to Reed Elsevier plc. Castanea Parnters plans to acquire or take minority stakes in companies in publishing, education services, media, consumer products, retail and financial services. The firm recently invested $11.5 million for a minority stake in Lee Munder Capital Group, a Boston-based investment management firm. Castanea Partners's investment team includes Partner Steven T. Berg, formerly an investment professional at Bain Capital, Boston. Reach Castanea Partners at (617) 630-2400.

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