Solace Capital Partners, a private equity firm focused on distressed-for-control and special situations investments in North America, has closed its inaugural Solace Capital Special Situations Fund at USD576 million, in excess of its USD500 million target.
Solace has flexible capital and targets control-oriented investments in complex, distressed or capital-constrained, lower-middle market companies across numerous industries.
Typical investment size ranges from USD10 million to USD75 million.
To date, the fund has invested and committed more than USD120 million in five portfolio companies.
Solace’s managing partners Chris Brothers, Vince Cebula and Brett Wyard say: “We are pleased with the support we received from our high-quality investors in closing our first fund above our target. Anticipating more corporate defaults and distressed opportunities, we have the right strategy and the right team in place to capitalise on the investing environment. With five investments already in our portfolio, we are off to a strong start and are excited by the numerous opportunities in our pipeline.”
