Palladium Equity Partners has held a final close of Palladium Equity Partners V LP (PEP V) with commitments of $1.56 billion. The firm’s earlier fund, Palladium Equity Partners IV LP, closed on $1.14 billion in 2014.
PEP V received strong support from existing limited partners and attracted many first-time investors, including well-known corporate and public pension plans, family offices, funds of funds, insurance companies and other institutional investors in North America, Europe, Asia, the Middle East and Latin America.
“We are pleased with the strong support PEP V received from existing and new limited partners,” said Marcos Rodriguez, chairman and CEO of Palladium. “Our team looks forward to continuing to apply our disciplined investment process and our GOLTM value creation process to seek to generate attractive risk-adjusted returns.” Palladium’s value creation process on its investments emphasizes accelerating growth (G), improving operations (O), and enhancing leadership (L).
Palladium invests from $50 million to $150 million of equity in companies that have $10 million to $75 million of EBITDA. Sectors of interest include consumer, services, industrials and healthcare, and Palladium specializes investing in companies that operate in the US Hispanic market.
Palladium’s new fund has already made investments in three companies: Spice World, an Orlando, FL-based supplier of fresh and processed garlic products primarily to the US retail channel (acquired in July 2018) (www.spiceworldinc.com); Kymera International, a Research Triangle Park, NC-based manufacturer of specialty materials, powders, pastes and granules used in the chemical, specialty automotive, and additive manufacturing sectors (October 2018) (www.kymerainternational.com); and Quirch Foods, a Miami, FL-based distributor, importer and exporter of protein and Hispanic food products (December 2018) (www.quirchfoods.com).
“As we deploy PEP V, we are excited to continue to partner with founders and management teams to help improve and grow their companies into larger and more valuable market leaders,” said David Perez, president and COO of Palladium.
Since its founding in 1997, Palladium has now invested over $2 billion of capital in more than 33 platform investments and completed over 130 add-on acquisitions. The firm is based in New York (www.palladiumequity.com).
© 2019 Private Equity Professional | July 12, 2019