Nautic Closes at Hard Cap
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Nautic Closes at Hard Cap

nautic nf22Mid-market firm Nautic Partners has completed fund raising for Nautic Partners VIII at the hard cap of $900 million. Nautic began fund raising in October 2015 and raised its cap to $900 million after receiving strong demand from both new and existing investors.

The list of limited partners in Nautic VIII includes, in part, AlpInvest Partners, Ardian, the Arizona State Retirement System, Brown University, the Employees’ Retirement System of the State of Rhode Island, HarbourVest, clients of J.P. Morgan Asset Management, LGT Capital Partners, Nebrodi Partners, New York State Teachers’ Retirement System, and Pathway Capital Management.

Nautic Partners is a middle-market private equity firm with over $3 billion of equity capital under management. Nautic targets majority equity investments of $25 million to $100 million. Sectors of interest include industrial products, outsourced services, and healthcare.

Nautic was founded in 1986 and as part of Fleet Bank and spun out of Fleet in 2000 when it raised Nautic Partners V, its first independent fund. Nautic VIII is the firm’s eighth private equity fund and fourth independent fund. Nautic has completed over 120 platform transactions throughout its 30-year history and the firm is headquartered in Providence, RI (www.nautic.com).

Nautic’s managing directors – who have worked together at the firm for over 125 combined years -include Habib Gorgi, Bernard Buonanno, Scott Hilinski, Christopher Crosby, Douglas Hill, Christopher Corey, Christopher Pierce, and James Beakey.

Bernard Buonanno nf11“In Nautic VIII, we intend to continue to emphasize our expertise in our three primary sector verticals: healthcare, industrial products, and outsourced services,” said Mr. Buonanno. “We have developed deep experience within these industries over the firm’s three decades of investing, and will seek to leverage the specialized knowledge and relationship networks we have generated in order to continue to drive performance for our investors.”

Placement agent Mercury Capital Advisors assisted Nautic on this fundraise (www.mercurycapitaladvisors.com). Kirkland & Ellis (www.kirkland.com) provided legal counsel to Nautic.

© 2016 PEPD • Private Equity’s Leading News Magazine • 1-11-16

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