Bowside Capital has held the final closing for its Bowside Capital Fund I, a fund of funds and co-investments specialising in the US private equity, small capitalisation market. Unique in its focus, Bowside Capital invests in, and co-invests with, US private equity funds with targeted capital commitments of USD100 million or less.
“We formed the Fund to address the significant opportunity for value creation that exists in this segment of the market, a segment that should be an important part of any alternative investment allocation,” says Managing Partner Christian Albert. “Considering the current challenging fundraising environment, it is notable that we are one of the few funds that did not extend its fundraising period last year.”
Albert adds: “We have an investor group that recognises the role transaction size can play in return rates and that believes in the compelling characteristics of the Fund. A fund split 50-50 between fund investments and co-investments can have the same economics as that of a primary fund – with the additional benefits of manager identification and selection, diversification, and aggregation.”
The fund’s investors include senior executives of leading private equity and financial firms. The fund’s Advisory Board comprises Norman Alpert, Porter Collins, Marcia Hooper, Michael Joukowsky, and Walter McCormack.
Bowside Capital has already completed a number of investments from the fund including commitments to the investment affiliates of Azalea Capital, Guardian Capital Partners, Hadley Capital and Hastings Equity, as well as a co-investment with Guardian Capital in the acquisition of Sure Fit, Inc.
