Northlane Beats Target

Middle market private equity firm Northlane Capital Partners has held an above-target close of Northlane Capital Partners II LP (NCP II) with total capital commitments of $408 million.

Northlane invests in companies that have EBITDA of $5 million to $30 million and are active in the healthcare and business services sectors. The Bethesda, Maryland-based firm was formed through the January 2017 spinout of American Capital Equity III LP from American Capital as a result of the acquisition of the company by Ares Capital.

NCP II, the firm’s second independent fund, beat its original target of $375 million and was backed by numerous institutional investors including public pension funds, asset managers, insurance companies, high net worth families, foundations, and former Northlane portfolio company executives.

NCP II has already closed on two platform investments with the buys of VMG Health, a Dallas-based provider of valuation and transaction advisory services focused on the healthcare industry (March 2020); and Empower Community Care, an Atlanta-based provider of behavioral health services to at-risk youth, their families, and caregivers (March 2021).

Northlane is led by its five partners – Justin DuFour, Sean Eagle, Eugene Krichevsky, David Steinglass, and Scott Kauffman – and is headquartered in Bethesda, Maryland.

© 2021 Private Equity Professional | April 29, 2021

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