Pamlico Capital has held an above target, hard cap, an oversubscribed final close of Pamlico Capital VI LP (PC VI) with $1.75 billion of capital.
Limited partners in PC VI include endowments, foundations, insurance companies, family offices, pension plans, and other institutional investors. Pamlico’s fifth fund closed in February 2020, also at its hard cap, with $1.4 billion of capital. With the closing of PC VI, the firm has raised over $6.5 billion in aggregate commitments since 2002.
“We are incredibly grateful for the trust and confidence of our limited partners, both long-standing and new, who share our belief in the value of partnership, transparency and consistency,” said Art Roselle, a partner at Pamlico. “The success of PC VI is a testament to the strength of our strategy, the caliber of our portfolio company management teams, and our firm’s commitment to driving lasting value.”
Pamlico Capital invests from $50 million to $200 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 communications, healthcare IT, information services, software and tech-enabled services. Pamlico was founded in 1988 and is based in Charlotte, North Carolina.
“We are especially pleased with the speed to close and successful outcome for PC VI in what remains a challenging fundraising environment,” said Stuart Christhilf, a partner and COO at Pamlico Capital. “We saw strong support from so many of our long-standing investors who continue to represent the large majority of our capital base, while also broadening our geographic reach and partnering with a number of new, highly respected investors.”
UBS Securities was the placement agent for Pamlico and Ropes & Gray provided legal services.
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