Silver Oak Services Partners has held a final closing above target for its newest fund, Silver Oak Services Partners II, L.P., with total commitments of $206 million. The new fund saw strong support from both existing and new investors. Limited partners include corporate pension plans, family offices, funds of funds, insurance companies and a sovereign entity.
Silver Oak makes control investments of $10 million to $30 million in companies with revenues from $15 million to $150 million and EBITDAs from $4 million to $20 million. Sectors of interest include business services, healthcare services, and consumer services.
Silver Oak, based in Evanston, IL (www.silversoaksp.com), has already completed two platform investments for its new fund. In September 2011 the firm acquired Directravel Holdings, a provider of outsourced corporate travel management services, and in April 2012 acquired Physical Rehabilitation Network, a physical therapy clinic platform in the Western United States.
Forum Capital Partners served as placement agent and fundraising advisor to Silver Oak. “We are pleased by the market’s reception of Silver Oak’s second fund, which exceeded its target despite a challenging fundraising environment,” said Robert Schwabe, Managing Partner of Forum Capital. “The successful fundraising campaign is directly attributable to the strength and experience of Silver Oak’s team and differentiated investment approach.”
Forum Capital Partners advises and raises institutional capital for buyout, growth equity, real estate, infrastructure, secondary and other private investment funds worldwide. The firm was founded in 2001 by Jeffrey Stern and Robert Schwabe and is based in New York (www.forumcp.com).
© 2013 PEPD • Private Equity’s Leading News Magazine • 5-8-13
