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Ocean Avenue Capital Partners closes fifth fund at $600m hard cap

Ocean Avenue Capital Partners, a $1.9bn private equity fund manager focused on lower middle market and special situations investments, has closed its latest investment vehicle, Ocean Avenue Fund V (Fund V) at its hard cap of $600m.

Fund V’s institutional investors include endowments and foundations, corporate and public pension plans, insurance companies and family offices across the US, Europe, Asia and South America.

Ocean Avenue Capital Partners was founded in 2010 and has invested in over 130 lower middle market companies across multiple industries and verticals.

In a statement, Duran Curis, Co-Founder and Partner at Ocean Avenue Capital Partners, said: “We believe that our unique approach to investing in the very low end of the middle market, which capitalises on changing trends in the industry, resonated with limited partners in an otherwise very crowded market.”

Kirkland & Ellis served as Ocean Avenue’s legal counsel with respect to the formation of Fund V.

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