Parallax Capital Partners, a California-based private equity firm focused on making control equity investments in lower middle market software and related technology companies, has held a final closing of its first institutional private equity fund, Parallax Capital Fund, LP, with aggregate capital commitments of $115 million.
“We are grateful for the commitment shown by our highly respected group of institutional investors. Our team is excited about its ability to capitalize on the current opportunity set and we look forward to continuing to implement our investment strategy,” said James Hale, Managing Partner of Parallax.
Parallax invests in software and computer related technology companies that have annual revenues between $5 million and $100 million and that are based in the US, Canada, Europe and Asia-Pacific. Since 1999, Parallax has participated in over 25 transactions representing over $250 million in transaction value worldwide. The firm is headquartered in Laguna Hills, CA (www.parallaxcap.com).
Atlantic-Pacific Capital served as the exclusive global placement agent for the fund. “Atlantic-Pacific provided critical expertise in raising our first institutional fund and was instrumental in expanding our investor base in the institutional investor community. We are grateful for the support from our highly respected limited partners, and we are sharply focused on investment strategy that we have used in the past,” said Mr. Hale.
Since 1995, Atlantic‐Pacific Capital has executed over 70 capital raising assignments aggregating over $50 billion. Typical projects include private equity, real estate and infrastructure fund placements, as well as secondary advisory mandates and direct private placements. The firm has offices in New York, Greenwich, Chicago, San Francisco, London and Hong Kong (www.apcap.com).
“We were honored to have had the opportunity to represent Parallax on its inaugural fund. Investors were drawn to the firm’s focused strategy of investing in underperforming software companies in the small end of the market, the depth of its in-house operations team, and its impressive track record,” said Jim Weidner, Partner at Atlantic-Pacific.
© 2014 PEPD • Private Equity’s Leading News Magazine • 5-13-14