Longshore Capital Partners has held the final closing of Longshore Capital Partners Fund II at its hard cap of $325 million in capital. The firm’s new fund was oversubscribed, closing above its initial target of $275 million.
Limited partners in Fund II include both existing and new public pension plans, endowments, foundations, fund-of-funds, asset management firms, insurance companies, and family offices.
“We are extremely grateful for the continued support from our investor base as we take the next step in growing the Longshore franchise with the continued goal of delivering market-leading returns for our investors, management teams, and Longshore,” said Nick Christopher and Ryan Anthony, co-founders of Longshore, in a released statement. “We look forward to expanding our team and helping founders in the lower middle market create value through a partnership with Longshore.”
Fund II follows the firm’s inaugural fund, which closed in 2020 with $210 million of capital. Longshore invested capital from its first fund in eight platforms, with four remaining as current portfolio companies. The last Fund I portfolio company acquired by Longshore was Blue Wheel Media, a Detroit-area provider of omni-channel digital commerce strategies and services, which was acquired in January 2023.
For Fund II, Longshore has closed one platform acquisition with the purchase last year of Annuity Health, a Chicago-area provider of revenue cycle management services to hospitals and academic medical centers.
Chicago-headquartered Longshore Capital Partners makes control investments in North America-based companies with $5 million to $15 million of EBITDA. The firm’s sectors of interest include tech-enabled services, with specific focus on revenue cycle management, business process outsourcing, loyalty and incentives, and managed services.
Shannon Advisors served as the placement agent for this fundraise, and Kirkland & Ellis provided legal services.
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