Pamlico Closes Fund Five

Pamlico Capital has held a first and final close of Pamlico Capital V LP (PC V) at the fund’s hard cap with total commitments of $1.4 billion. The new fund was oversubscribed with demand from existing and new investors significantly exceeding its original $1.25 billion target.

Limited partners in PC V include funds of funds, insurance companies, corporate and foreign pension funds, endowments, foundations and family offices. Pamlico’s earlier fund (PC IV) closed in November 2016 at its hard cap of $910 million.

“We are honored to have raised PC V so quickly and with such strong demand, including participation from nearly all PC IV investors and from a number of new investors,” said Art Roselle, a partner at Pamlico. “PC V will continue our history of partnering with talented managers, often as a company’s first institutional investor, to accelerate growth and ultimately build industry-leading businesses.”

Pamlico Capital invests from $25 million to $125 million in companies with annual revenues from $10 million to $150 million and enterprise values from $50 million to $350 million. Sectors of interest include business and technology services, communications, and healthcare. Pamlico was founded in 1988 and is based in Charlotte, North Carolina.

“We are grateful not only for the success of PC V but also for the confidence investors have placed in us over the years,” said Eric Eubank, a partner at Pamlico. “We’ve maintained our focus and delivered consistently strong returns across numerous cycles since 1988, and through PC V, we will look to capitalize on what we continue to believe are attractive opportunities to partner with talented managers and build great companies going forward.”

“We remain focused on pursuing the strategies that have made us successful over time, which include a commitment to the lower middle market and our three core industry verticals, along with continuous investment in value creation capabilities that support our portfolio company managers,” added Mr. Roselle.

UBS Securities was the placement agent for Pamlico on this fundraise and Robinson, Bradshaw & Hinson provided legal services.

© 2020 Private Equity Professional | February 19, 2020

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