Ocean Avenue Has Hard Cap Close

Ocean Avenue Has Hard Cap Close

Ocean Avenue Capital Partners has closed Ocean Avenue Fund IV LP at its hard cap of $350 million. The new fund had an original target of $300 million.

Investors in Fund IV include public and corporate pensions, foundations, financial institutions, asset managers and family offices, as well as high net worth individuals.

Santa Monica, California-based Ocean Avenue was founded in 2011 and is led by its four partners – Jeff Ennis, Duran Curis, Jacques Youssefmi, and Pete Notz.

Ocean Avenue invests from $6 million to $15 million of control and minority equity in North American-based companies that have from $3 million to $15 million of EBITDA and invests in special situations and distressed opportunities. The firm typically partners with independent sponsors but also co-invests alongside fund sponsors.

Kirkland & Ellis provided legal services to Ocean Avenue on this fundraise.

Private Equity Professional | August 4, 2020

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