Shore Capital Partners, the Chicago-based private equity firm founded by billionaire Justin Ishbia, has closed its third dedicated food and beverage fund at $450m, targeting investments in companies generating $5m to $100m in annual revenue, according to a report by Bloomberg.
The fund, announced Tuesday, attracted commitments from a mix of existing and new limited partners including family offices, university endowments, and financial institutions, alongside capital from Shore’s own partners.
“Food and beverage remains one of the most active and resilient areas of the lower middle market, with meaningful growth potential through operational excellence and strategic discipline,” Ishbia said in a statement.
This latest close brings Shore Capital’s total assets under management to approximately $13bn. The firm primarily focuses on lower-middle-market investments across healthcare, real estate, and food and beverage sectors.
Outside of private equity, Ishbia has gained prominence in the professional sports arena. After stepping back from a potential bid for Major League Baseball’s Minnesota Twins last year, he shifted his attention to the Chicago White Sox, where he holds a minority stake. In June, Ishbia secured an agreement with current owner Jerry Reinsdorf granting him an option to acquire a controlling interest by 2034.
Additionally, Ishbia is part of a consortium led by his billionaire brother Mat Ishbia that owns a majority stake in the NBA’s Phoenix Suns. He also holds a minority interest in Nashville SC, a Major League Soccer franchise.
