Atlantic Street Capital has closed Atlantic Street Capital III, LP with $210 million of committed capital, just beating the firm’s target raise of $200 million. Fund III received support from its existing investors and also added a number of new limited partners.
“Atlantic Street has built a successful track record and our third fund is a significant endorsement of our ability to leverage proven operating experience to drive transformations of our portfolio companies,” said Peter Shabecoff, Atlantic Street’s founder and Managing Partner. “With the completion of our latest fund we are now very well positioned to continue investments in our target industries as we work collaboratively with management teams to accelerate growth and create exceptional strategic value for all stakeholders.”
Atlantic Street Capital invests from $10 million to $30 million in middle market companies with EBITDA from $4 million to $12 million. Sectors of interest include consumer products and services, transportation and logistics, business services, and basic manufacturing. The firm was founded in September 2006 and is based in Stamford, CT (www.atlanticstreetcapital.com).
Atlantic Street has 15 investment professionals and just last month added three new investment professionals with the hirings of George Parry and M. Kurt Lentz as Principals of the firm, and Sarah Robson as Vice President of Business Development. “We remain enthusiastic about the rich pipeline of prospective investments we have identified for Fund III,” said Managing Partner Andy Wilkins. “We are confident we have the right team to execute our differentiated value creation strategy that will transform middle market companies and deliver value for our investors.”
New York-based law firm Morrison Cohen (www.morrisoncohen.com) served as legal counsel for Atlantic Street Capital on this fundraise.
© 2016 Private Equity Professional • 10-20-16
