Pacific Avenue closes significantly oversubscribed Fund I at over $500m

Pacific Avenue Capital Partners, a private equity firm specialising in corporate divestitures in the middle market, has held the final closing of its first fund, Pacific Avenue Fund I, which was significantly oversubscribed at its hard cap of over $500 million. 

Pacific Avenue Capital Partners (Pacific Avenue), a private equity firm specialising in corporate divestitures in the middle market, has held the final closing of its first fund, Pacific Avenue Fund I, which was significantly oversubscribed at its hard cap of over $500 million. 

The fund includes commitments from a diverse group of global investors including insurance companies, consultants, endowments and foundations, funds of funds, family offices and individuals.

Since inception, Pacific Avenue Capital Partners has focused on corporate divestitures and other complex situations in the middle market. Pacific Avenue’s significant M&A and operations experience allows the firm to navigate complex transactions.

To date, the fund has completed one platform investment, Sunrich Products, and has executed an agreement to acquire its second platform, Resin Solutions. Resin Solutions is expected to close in the second or third quarter of 2023.

Lazard Frères & Co LLC served as the exclusive placement advisor to the Fund. Weil, Gotshal & Manges LLP served as legal counsel to the fund.