Middle market private equity firm Palm Beach Capital announced that it has closed Palm Beach Capital Fund VI, L.P., which is its sixth private equity fund dedicated to partnering with founders, business owners, and management teams in key sector focus areas. Fund VI surpassed $350 million, significantly surpassing its target of $275 million.
The 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. And PBC’s general partners and professionals are significant personal investors in Fund VI and remain one of the largest investors across all active PBC funds. Many previous portfolio company founders and management team members also participated in Fund VI.
Fund VI will continue utilizing PBC’s playbook, which is 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 platform companies targeted by PBC have annual EBITDA of between $10 and $30 million.
Snowbridge Securities acted as placement agent for Fund VI, and Greenberg Traurig served as legal counsel.
KEY QUOTES:
“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. 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.”
– Shaun McGruder, PBC Co-Founder and Managing Partner
“We are very proud of the relationships we have cultivated across the entire middle market ecosystem since our founding in 2001. In today’s environment, both investors and business owners truly appreciate the importance of genuine relationships, collaboration, and trust.”
– Juan Tagle, Director of Fundraising and Business Development
