WEST PALM BEACH, Fla.–(BUSINESS WIRE)–Palm Beach Capital, a middle market private equity firm, announced today that it has closed Palm Beach Capital Fund VI, L.P., its sixth private equity fund dedicated to partnering with founders, business owners, and management teams in key sector focus areas. Fund VI exceeded $350 million, significantly surpassing its target of $275 million.
Fund VI’s broad and global investor base includes diversified financial institutions, insurance companies, pension funds, foundations, endowments, consultants, funds of funds, and institutional family offices. PBC’s general partners and professionals are significant personal investors in Fund VI and remain, collectively, one of the largest investors across all active PBC funds. Many previous portfolio company founders and management team members participated in Fund VI as well.
“We are excited and humbled by the overwhelming support of our existing long-time investors, and we are also thrilled to welcome several new institutional investors,” said Shaun McGruder, PBC Co-Founder and Managing Partner. “We’ve always viewed our deep relationships with our investors as true partnerships and a competitive advantage in the lower middle market. This was demonstrated by our ability to raise our largest fund since inception despite a very challenging broader fundraising market.”
Fund VI will continue to utilize PBC’s playbook driven by a differentiated and proprietary sourcing model, deep industry expertise and thematic industry consolidation strategies. PBC focuses on building relationships directly with founders and business owners seeking a true partner to assist them in executing critical growth initiatives to create industry leading companies. Most of the platform companies targeted by PBC have annual EBITDA between $10 and $30 million.
“We are very proud of the relationships we have cultivated across the entire middle market ecosystem since our founding in 2001,” commented Juan Tagle, Director of Fundraising and Business Development. “In today’s environment, both investors and business owners truly appreciate the importance of genuine relationships, collaboration, and trust.”
Snowbridge Securities LLC acted as placement agent for Fund VI and Greenberg Traurig, LLP served as legal counsel.
About Palm Beach Capital
Founded in 2001, Palm Beach Capital is a middle market private equity investment firm based in West Palm Beach, Florida. Currently investing out of its sixth committed fund, the firm focuses on high growth investment opportunities and partners with founders, business owners, and management teams in management buyouts, recapitalizations and growth equity investments. Since its inception, Palm Beach Capital has made investments in 56 platform portfolio companies, with a focus on engineering services, transportation and logistics, business services and healthcare sectors. For more information, please visit the firm’s website at www.pbcap.com.
