Shore Capital Partners Closes on Almost $2 Billion Across Three Funds
2024年10月7日 - 9:00PM
ビジネスワイヤ(英語)
Oversubscribed Healthcare Advantage, Business
Services Partners II and Shore Search Partners Funds Bring Firm’s
Total Assets Under Management to $9.1 Billion
Shore Capital Partners (“Shore” or “the Firm”),
a private equity firm focused on lower-middle market investments,
today announced the closing of its inaugural Healthcare Advantage
Fund (“Advantage Fund”), second Business Services Partners Fund
(“Business Services Fund II”), and first Shore Search Partners Fund
(“Search Fund”). The three funds each exceeded their targets and
together represent over $1.9 billion in commitments, bringing the
Firm’s assets under management to $9.1 billion.
“The completion of these fundraises reflects a
continuation of our lower-middle market focus, while also
innovating for expansion opportunities through the Advantage and
Search Funds,” said Justin Ishbia, Shore Founder and Managing
Partner. “Our commitment to value creation through outsized
operational support has always been core to our strategy, and it
will continue to be as we extend our investment range across the
lower-middle market. We are grateful for the strong support from
our existing limited partners and new strategic partners amidst a
challenging economic backdrop.”
Led by Founding Partners Mike Cooper and John
Hennegan, the Advantage Fund builds on the Firm’s successful track
record of developing strong, well-positioned companies. The
Healthcare Advantage team will leverage its healthcare expertise to
invest in businesses that fit its existing buy-and-build strategy.
In addition to targeting attractive healthcare niches, the team
will focus on opportunities to expand and continue partnerships
with breakout businesses within its lower-middle market healthcare
portfolio. The team’s value creation strategy includes supporting
top executives with world class board talent, operational
resources, and collaboration opportunities with Shore’s network of
companies and executives.
The Business Services team is led by Partners
Brad Morehead, Rory Kenny, Matt Sweeney and Mickey Jiang. Building
on its established sector knowledge and experience, the Business
Services team will focus on investment opportunities in lower
middle market companies across IT and tech-enabled services,
professional services, compliance, security and risk management,
software and data systems, environmental and waste services,
facility and field services, and transportation and logistics.
“The strong support from our limited partners
for our second Business Services Fund is indicative of our progress
in Fund I, proven investment strategy, and discipline across
attractive sectors,” said Morehead. “Pairing our business services
experience with our rigorous thesis development process, we have
narrowed in on industry niches we believe have the greatest
potential for high-impact partnerships with founders and owners of
small and medium-sized companies poised for accelerated
growth.”
The Search Fund is led by Partner Michael
Aubrey and Principals Jeff Smart, Jeff Smith and Jacob Balley. With
Shore’s established playbooks and recognized brand in sourcing,
negotiating and executing microcap transactions, the Search team
will focus on supporting executives pursuing acquisition
opportunities in the traditional Search investment range. Search
executives will have access to Shore’s extensive network and
resources to help them find, execute and operate microcap
companies. Breakout companies will have the potential to become
Shore microcap fund investments.
Commitments for the three funds came from the
Firm’s existing investors and select new limited partners,
resulting in a diverse investor base comprised of leading
university endowments, financial institutions, pension funds,
insurance companies, funds of funds, and family offices. The
partners of Shore have also committed capital to the funds.
Kirkland & Ellis LLP served as a legal
advisor to Shore for the fundraising efforts. Shore did not use a
placement agent.
About Shore Capital Partners
Shore Capital, a Chicago-based private equity
firm with offices in Nashville, is an investor in lower middle
market companies in the Healthcare, Food and Beverage, Business
Services, Industrial, and Real Estate industries. Shore’s strategy
is to support management partners to grow faster with less risk
through access to capital, world-class board and operational
resources, and unmatched networking, development, and shared
learnings across the portfolio. From 2020-2023, Shore received
recognition from Inc Magazine as a 4x Top Founder Friendly Investor
and by Pitchbook Research for being the global leader in Private
Equity total deal volume. Shore targets investments in proven,
successful private companies with superior management teams, stable
cash flow, and significant potential to grow through industry
consolidation and organic growth to generate value for
shareholders. Shore has $9.1 billion of assets under management and
in additional investment platforms to which it provides business
and operational consulting services. For more information on these
awards and investment platforms, please visit: www.shorecp.com.
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Media Jordan Niezelski, Edelman Smithfield
jordan.niezelski@edelmansmithfield.com