The Halifax Group has held a final close of its third buyout fund, Halifax Capital Partners III, L.P., with commitments of $393 million exceeding its target of $350 million. With this close the firm now has total committed capital under management of approximately $1 billion. Halifax’s previous fund was $305 million and closed in 2006.
Investors in the latest fund include public and private pension funds, endowments and foundations, funds of funds, family offices, and insurance companies. Halifax III includes the majority of Halifax’s previous investors as well as a number of first-time investment partners.
“We could not be prouder to have assembled such a first class investor base. We are humbled by the trust and commitment our limited partners have placed in us to invest their capital, and the capital of their beneficiaries,” said David Dupree, CEO and Managing Director at Halifax. “We hope to reward their commitment and loyalty by being excellent stewards of their money and by building on our now 13-year history of investing in the lower middle market.”
Avec Capital (www.aveccapital.com), an affiliate of XT Capital Partners, served as the exclusive placement agent for Halifax III.
On October 31st, Halifax III made its first investment in Interim HealthCare, a home healthcare franchisor with more than 300 independently owned franchise locations in 43 states. The company provides skilled home healthcare, home-based hospice care, personal care and independent living support, as well as supplemental healthcare staffing. The company was founded in 1996 and is based in Sunrise, FL (www.interimhealthcare.com).
The Halifax Group specializes in partnering with managers and entrepreneurs to recapitalize and grow lower middle-market businesses across a variety of industries including health and wellness; infrastructure; business and government services; and franchising. The firm maintains offices in Washington, DC; Dallas, TX; and Raleigh, NC (www.thehalifaxgroup.com).
© 2012 PEPD • Private Equity’s Leading News Magazine • 11-6-12