Pacific Avenue Capital Partners has closed its second fund, Pacific Avenue Fund II, with more than $1.65bn in commitments, including a €100m-plus European sidecar, after a fundraising process that wrapped up in under four months.
The Los Angeles- and Paris-based private equity firm, which focuses on corporate carve-outs and other complex middle-market transactions, said both vehicles were significantly oversubscribed, attracting strong backing from new and existing LPs including public pensions, endowments, insurance companies, funds of funds, and family offices.
Pacific Avenue, founded by Chris Sznewajs, targets businesses undergoing operational or strategic challenges in mission-critical industries, working alongside management to drive transformation. The firm’s debut fund closed in April 2023 with commitments exceeding $500m.
Lazard served as exclusive placement agent and Weil, Gotshal & Manges acted as legal counsel. The close brings Pacific Avenue’s total AUM to about $3.8bn as of 31 July 2025.
