Middle-market private equity firm Pamilico Capital (Pamlico) has held the final close of its sixth fund – Pamlico Capital VI (PC VI) – at the fund’s hard cap of $1.75bn, exceeding its initial fundraising target of $1.5bn.
According to a press statement, the oversubscribed fund attracted strong support from both existing and new investors.
Pamlico generally seeks equity investments of $50m to $200m in growing companies. The firm is focused on growth equity and buyout opportunities in North America within the communications, healthcare IT, information services, software, and tech-enabled services sectors. Pamlico has invested over $4.0bn in 80 investments since 2002.
Fund VI’s diverse group of limited partners includes endowments, foundations, insurance companies, family offices, pension plans, and other institutional investors.
The firm’s ability to exceed its fundraising goal underscores the continued enthusiasm for Pamlico’s focused strategy, as well as its differentiated approach to value creation. Including PC VI, the firm has raised over $6.5 billion in aggregate commitments from investors since 2002.
“We are especially pleased with the speed to close and successful outcome for PC VI in what remains a challenging fundraising environment,” said Stuart Christhilf, Partner and COO at Pamlico Capital. “We saw strong support from so many of our long-standing investors who continue to represent the large majority of our capital base, while also broadening our geographic reach and partnering with a number of new, highly respected investors.”
UBS Securities LLC acted as placement agent for Pamlico. Ropes & Gray LLP provided legal counsel.
