Pamlico Capital closes USD1.4bn fund V

Pamlico Capital (Pamlico), a lower middle market private equity firm focused on growth-oriented businesses, has held the first and final close of Pamlico Capital V (PC V) at the fund’s hard cap with total commitments of USD1.4 billion.  

PC V was well oversubscribed with demand from existing and new investors significantly exceeding the original USD1.25 billion target. 

Commitments to PC V came from a diverse group of global investors comprised of leading funds of funds, insurance companies, corporate and foreign pension funds, endowments, foundations and family offices.  Pamlico is proud to have partnered with such a distinguished group of limited partners and to have raised over USD4.3 billion in aggregate commitments since 2002. 
 
“We are honoured to have raised PC V so quickly and with such strong demand, including participation from nearly all PC IV investors and from a number of new investors,” says Pamlico Partner Art Roselle. “PC V will continue our history of partnering with talented managers, often as a company’s first institutional investor, to accelerate growth and ultimately build industry-leading businesses. We remain focused on pursuing the strategies that have made us successful over time, which include a commitment to the lower middle market and our three core industry verticals, along with continuous investment in value creation capabilities that support our portfolio company managers.” 
 
As with Pamlico’s previous funds, PC V will seek equity investments of USD25 million to USD125 million in growing companies with total enterprise values of between USD50 million and USD350 million.  Pamlico remains focused on equity and buyout opportunities within the business and technology services, communications and healthcare sectors in North America.  The firm’s investment strategy leverages the team’s deep industry expertise and proven value creation strategies to identify attractive sub-sectors within its target industries and specific opportunities where Pamlico can take an active role in helping management teams build value for shareholders. 
 
“We are grateful not only for the success of PC V, but also for the confidence investors have placed in us over the years,” adds Pamlico Partner Eric Eubank. “We’ve maintained our focus and delivered consistently strong returns across numerous cycles since 1988, and through PC V, will look to capitalise on what we continue to believe are attractive opportunities to partner with talented managers and build great companies going forward.”
 
UBS Securities LLC acted as placement agent for Pamlico. Robinson, Bradshaw & Hinson, PA provided legal counsel.