Private equity firm Boyne Capital Partners has closed its BCM Fund I with USD126 million of total capital commitments, surpassing the original target of USD100 million.
The Fund includes select limited partners representing insurance companies, fund of funds, family offices and individuals. The Fund targets investments in the lower middle market sector, specifically companies with revenues of less than USD100 million and with EBITDA of USD2 million to USD10 million.
Boyne Managing Partner, Derek McDowell, says: “We are pleased with the successful and rapid fund raise, having completed the process in less than a year. We are grateful to our existing LPs who supported us in our first institutional capital raise and whose support has been critical to the growth and success of our firm. We remain committed to investing in the lower end of the middle market and believe this fund enhances our ability to execute on our investment strategy in a disciplined and focused manner.”
Boyne has already consummated the first two platform investments for the Fund. The most recent transaction was the acquisition of AmeriBest Home Care, a senior homecare company based in Pennsylvania.
