Shore Capital Partners has completed fundraising for Shore Capital Partners Fund I. The new fund was substantially oversubscribed and closed with $112.5 million of committed capital. Investors in Fund I include pension funds, financial institutions, fund of funds and family offices.
“We are very pleased with the reception Shore Capital Partners Fund I received from such a highly respected group of institutional investors,” said Justin Ishbia, Founder and Managing Partner of Shore Capital Partners. “This is an important milestone for Shore and we believe the interest shown by investors validates our strategy to invest in microcap healthcare companies that can benefit from our operational and financial support.”
Shore’s principals have been investing together since 2009, completing 14 acquisitions across five platforms. Prior to founding Shore, Justin Ishbia worked at Valor Equity Partners and previously was an attorney in the private equity group at Kirkland Ellis. Ryan Kelley worked as an investment professional at Water Street Healthcare Partners and previously in the healthcare investment banking group at Bank of America. Michael Cooper was an investment professional at Wind Point Partners and previously at UBS Investment Bank. John Hennegan worked at Henry Crown & Company and previously at Citigroup in their investment bank. Don Pierce joined the team in the fall of 2013 from Baxter International and worked previously at RoundTable Healthcare Partners and UBS Investment Bank. Shore has also cultivated a roster of experienced healthcare Operating Partners to assist in deal sourcing, due diligence, and portfolio company management.
Shore Capital Partners invests in lower middle market healthcare related companies that have $5 million to $50 million of revenue and $1 million to $5 million of EBITDA. Shore targets equity commitments of $10 million to $15 million per platform. Healthcare sectors of particular interest include behavioral health; healthcare staffing; infusion therapy; laboratory products & distribution; laboratory services; outpatient rehab therapy; urgent care; veterinary services; pharmaceutical services and contract research. Shore was founded in 2009 and is based in Chicago (www.shorecp.com).
2014 PEPD • Private Equity’s Leading News Magazine • 6-5-14