Ocean Avenue Capital Partners holds final close of Ocean Avenue Fund IV

Ocean Avenue Capital Partners (OACP) has completed fundraising for Ocean Avenue Fund IV. The Fund had a USD300 million target and received limited partner commitments at its hard cap of USD350 million.

Established in 2011, OACP focuses on investing (primarily by partnering with independent sponsors, but also by co-investing alongside fund sponsors) in lower middle market buyouts (typically ranging from USD3 million to USD15 million in EBITDA), and special situation/distressed investments in North America. OACP expects that representative transactions in Fund IV will include change of control investments in founder owned businesses in transition, investments in underperforming businesses/turnarounds, carve-outs of none-core divisions of companies, restructurings, and thematic platform builds. The investor base for Fund IV comprises a diverse group of institutional investors including public and corporate pensions, foundations, financial institutions, asset managers and family offices, as well as high net worth individuals.

Kirkland & Ellis served as OACP’s legal counsel with respect to the formation of Fund IV.