Sverica Capital Management has promoted both Ryan Harstad and Gregg Osenkowski to partner. Mr. Harstad joined Sverica in 2011 and Mr. Osenkowski joined the firm in 2006.
Earlier this month, after just three months in the market, Sverica held a first and final close of its fifth fund, Sverica Capital Partners V LP. The new fund was oversubscribed and closed at its hard cap with $450 million of capital commitments.
“These promotions reflect the many years of dedication and hard work that Greg and Ryan have contributed to our firm and portfolio companies,” said David Finley, a managing partner of Sverica.
Mr. Harstad is based in San Francisco and has over eleven years of private equity experience. At Sverica, he is active sourcing and evaluating new investments, transaction execution, and portfolio company operations for technology and software companies. He currently serves as a board member at 7Summits, a provider of customer engagement products; iWave Information Systems, a provider of philanthropic and wealth data used by fundraising organizations; Stream Companies, an advertising agency serving the retail and automotive industries; and Synoptek, a provider of information technology management services. Mr. Harstad has a BS in Analytical Finance from Wake Forest and an MBA from Wharton.
Mr. Osenkowski is based in Boston and has over thirteen years of private equity experience. At Sverica, he is active sourcing and managing healthcare investments. He currently serves as a board member at Women’s Health USA, a provider of management services to OBGYN and in vitro fertilization practices; Med First Intermediate & Family Care, an operator of healthcare clinics in North Carolina and South Carolina; and Gener8, a maker of life science instrumentation and devices.
“We expect that Gregg and Ryan will continue to help us find new attractive investment opportunities. They will be an important part of our growth as we look to invest our latest fund,” said Frank Young, a managing partner at Sverica.
With the closing of Fund V, Sverica has now raised over $1.1 billion across five funds and invested in 34 portfolio companies since its founding in 2001. Sverica invests from $10 million to $40 million in US or Canadian-based companies with enterprise values up to $150 million. Sectors of interest include technology, business services, healthcare and high-value industrial products.
Sverica has not yet closed on any platform investments for Fund V but has been active with other transactions. In August 2019, the firm sold Dexmet Corporation, a Connecticut-based maker of specialty metal foils and polymers used in aerospace (aircraft lightning strike protection) and energy storage (anodes and cathodes), to PPG (NYSE: PPG). Dexmet experienced strong growth over Sverica’s 6.5-year investment period.
“We are very excited to welcome Gregg and Ryan into our partnership,” added Jordan Richards, a managing partner of Sverica. “Their deep industry domain expertise resonates with entrepreneurs helping them execute on various growth strategies and drive value for our investors.”
Sverica has offices in Boston and San Francisco.
© 2019 Private Equity Professional | October 18, 2019