Shore Capital Partners (Shore), a private equity firm focused on lower-middle market investments, has closed its inaugural Healthcare Advantage Fund, second Business Services Partners Fund, and first Shore Search Partners Fund with a combined $1.9bn in commitments.
Fundraising for the three funds, which all exceeded their targets brings the firm’s assets under management to $9.1bn.
Led by Founding Partners Mike Cooper and John Hennegan, the Healthcare Advantage Fund will target attractive healthcare niches, as well as opportunities to expand and continue partnerships with breakout businesses within its lower-middle market healthcare portfolio, according to a press statement.
The Business Partners Fund meanwhile, led by Partners Brad Morehead, Rory Kenny, Matt Sweeney and Mickey Jiang, will focus on investment opportunities in lower middle market companies across IT and tech-enabled services, professional services, compliance, security and risk management, software and data systems, environmental and waste services, facility and field services, and transportation and logistics.
The Shore Search Partners Fund led by Partner Michael Aubrey and Principals Jeff Smart, Jeff Smith and Jacob Balley, will focus on supporting executives pursuing acquisition opportunities in the traditional Search investment range. Search executives will have access to Shore’s extensive network and resources to help them find, execute and operate microcap companies. Breakout companies will have the potential to become Shore microcap fund investments.
Commitments for the three funds came from the firm’s existing investors and select new limited partners. The partners of Shore have also committed capital to the funds.
Kirkland & Ellis LLP served as a legal advisor to Shore for the fundraising efforts. Shore did not use a placement agent.
