SkyKnight Capital closes Fund III at USD600m hard cap

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Private investment firm SkyKnight Capital (SkyKnight) has held the final closing of SkyKnight Capital Fund III (Fund III), with USD600 million in commitments from family offices, foundations, endowments, pensions, and institutional investors. 

With an initial target of USD500 million, Fund III exceeded its target and was oversubscribed, reaching its hard cap of USD600 million in five months. SkyKnight now manages over USD2 billion of capital across its funds and co-investment vehicles.

“At SkyKnight, we are executing on a long-term, genuine approach to private equity partnership. SkyKnight brings both financial investment and strategic human capital to exceptional management teams to drive business growth and build value for all stakeholders. With Fund III, SkyKnight aims to continue to develop meaningful partnerships and contribute to the success of sector defining, best-in-class companies,” says Founder and Managing Partner Matt Ebbel.

Partner Mara Hunt says: “We are incredibly grateful for the support of our existing limited partners as well as the expansion of our partnership to include additional leading global investors in Fund III. Our investors have confidence in the consistent, repeatable approach we use in sourcing, evaluating, and adding value to our portfolio companies. We have a true partnership with our investors and will continue to work hard to generate strong risk-adjusted returns for everyone who has entrusted us with their capital.”

SkyKnight focuses on partnering with high quality businesses in acyclical growth sectors alongside exceptional management teams. Since its launch in 2015, SkyKnight has made eleven platform investments which have further made more than 50 add-on acquisitions. Fund III will make investments in the healthcare, financial services, and tech-enabled services sectors with equity commitments between USD50 million and USD250 million per platform. Fund III has made two investments to date, including IMA Financial Group, a leading independent specialty retail insurance broker, and NearU Services, a leading home services platform.

Ropes & Gray LLP serves as fund counsel.