Nautic Partners has held a final closing of Nautic Partners IX LP at its hard cap with $1.5 billion of limited partner commitments. The new fund was oversubscribed and received support from both existing and new institutional investors.
Nautic Partners is a middle-market private equity firm that makes majority equity investments of $25 million to $75 million in companies that are active in the healthcare, industrial products, and outsourced services sectors.
Investors in Nautic IX include public and private pension plans, endowments, fund of funds, insurers and financial institutions, sovereign wealth funds, and family offices. Nautic closed its previous fund, Nautic Partners VIII LP, in 2016 with $900 million of committed capital.
“We are pleased by the level of support and confidence from our limited partners,” said Allan Petersen, managing director of investor relations at Nautic. “We believe the success of this fundraise is a strong endorsement of our history of delivering long-term results, as well as the strength of our team, our specialized sector expertise, and our extensive network of executive and industry relationships.”
Founded as part of Fleet Financial Group in 1986, Nautic spun out in 2000 when it raised Nautic Partners V, its first independent fund. Nautic IX is the firm’s ninth private equity fund and fifth independent fund. The firm is headquartered in Providence, RI (www.nautic.com).
Kirkland & Ellis (www.kirkland.com) provided legal services to Nautic on this fundraise.
© 2019 Private Equity Professional | March 27, 2019