Pamlico Capital has held a first and final close of Pamlico Capital IV at the fund’s hard cap of $910 million. The new fund was oversubscribed and exceeded the original $750 million target.
From start to finish, fundraising was completed in only four months. Limited partners included fund of funds, insurance companies, corporate and foreign pension funds, endowments, foundations and family offices.
“We are very pleased and honored to have received such a high level of support from our current investors and are excited to partner with a few new investors in this fund and beyond,” said Pamlico Partner Art Roselle.
Like its earlier funds, Pamlico Capital will invests from $20 million to $100 million in companies with total enterprise values of between $50 million and $250 million. Sectors of interest include business and technology services, communications, and healthcare. Pamlico was founded in 1988 and is based in Charlotte (www.pamlicocapital.com).
“PC IV will build on our existing strategy of providing transformational capital to help accelerate the growth of businesses with untapped potential, often as a company’s first institutional investor,” added Mr. Roselle. “As we invest PC IV, we will leverage our industry expertise to pursue and capitalize on exciting investment opportunities in the lower middle market to drive value creation and improve operational performance.”
“The significant interest in our fourth fund underscores the team’s experience, capability and strategy, as well as our investors’ confidence in our consistent track record of delivering strong returns,” said Pamlico Partner Eric Eubank. “Our hands-on approach to sourcing, monitoring and guiding investments has helped us deliver consistently strong returns for over 25 years.”
UBS Securities was the placement agent for Pamlico and Robinson, Bradshaw & Hinson provided legal services.
© 2016 Private Equity Professional
November 30, 2016