SP Capital Partners (SP Capital), a New York-based private equity seeding platform, has closed its latest USD200 million fund, which manages both discretionary and managed separate accounts to invest in spin-out managers and provide flexible capital for seed, acceleration or expansion purposes.
In addition to being a capital provider, SP Capital is a value-added partner, deploying its expertise to help build private equity firms. SP Capital is also able to leverage the project management and global distribution capabilities of Sixpoint Partners (Sixpoint) in order to offer a comprehensive seeding, fundraising and investor relations solution for its portfolio funds.
SP Capital will be led by the senior principals of Sixpoint Partners together with Managing Director Jeff Lavoie, who will join the Fund as a Managing Director and member of the Fund’s Investment Committee. Lavoie will help lead the Fund’s origination, structuring and portfolio management efforts. Lavoie has over 13 years of private equity experience across primary, secondary and direct investments including seeding and GP stakes. Prior to joining SP Capital, Lavoie was a senior executive at Dyal Capital Partners. Previously, he held positions at CPPIB and PIMCO.
“We launched SP Capital to fulfil a growing need in the market for spin-out managers,” says Eric Zoller, Founder & Partner of Sixpoint Partners and Partner at SP Capital. “SP Capital caters to every aspect of a spin-out manager’s needs including operating and seed capital, formation know-how, primary fundraising and long-term platform expansion.
“Jeff Lavoie is a highly accomplished investment professional who brings a wealth of experience to his new role and we are thrilled to have him help lead the expansion of our principal business.
“Sixpoint has a long and successful history of partnering with high quality spin-outs and providing the needed advice, capital and corporate solution required to successfully launch a new firm,” adds Larry Smith, Partner at Sixpoint and SP Capital. “We are excited to leverage this expertise and continue pursuing these opportunities on a principal basis through SP Capital.”
The partners of SP Capital are committed to offering a low cost of capital in a competitive market. Instead of retaining a permanent stake in portfolio firms, SP Capital typically establishes a defined path to exit, thereby allowing the majority of the long-term value to remain with the GP.
