Shore Quickly Closes Fund II
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Shore Quickly Closes Fund II

Shore Capital Partners has held a first and final close of its second institutional private equity fund, Shore Capital Partners Fund II, LP, at the hard cap of $190 million. The firm’s earlier fund, Shore Capital Partners Fund I, LP, closed in June 2014 with $112.5 million of committed capital.

Fund II, raised in less than three months, surpassed its original target of $150 million and was substantially oversubscribed with investor demand approaching $750 million.  With Fund II, Shore now manages a total committed capital base of approximately $350 million.

Commitments to Fund II came from substantially all the firm’s existing investors, plus select new limited partners. Fund II limited partners include university endowments, financial institutions, funds of funds and family offices. Additionally, the partners of Shore have committed to invest a substantial amount of capital alongside Fund II.

“We are humbled by the reception Fund II has received from such a highly-respected group of investors,” said Justin Ishbia, Founder and Managing Partner of Shore Capital Partners. “Fund II will allow us to continue our strategy of investing in companies in growth healthcare sectors that will benefit from our operating expertise and deliver outstanding returns to our investors. We are grateful for the support of our limited partners and thank them for their commitment and trust in Shore.”

Shore Capital Partners invests from $10 million to $30 million of equity per transaction in lower middle market healthcare related companies that have $5 million to $50 million of revenue and $1 million to $7 million of EBITDA. Sectors of particular interest include addiction treatment; dermatology; home health; interventional products; medical scribes (physician assistants); optometry/ophthalmology; physical therapy; psychiatrist practice management; urgent care; vein clinics; and wound care. Shore was founded in 2009 and is based in Chicago (www.shorecp.com).

Kirkland & Ellis provided legal counsel to Shore on this fundraise and the firm did not use a placement agent.

© 2017 Private Equity Professional | April 4, 2017

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