Southfield Capital has held a final close of Southfield Capital III LP with $303 million of capital commitments.
Fund III exceeded its hard cap and was oversubscribed with support from numerous institutional investors including public pensions, insurance companies, endowments, fund-of-fund managers, and family offices.
Southfield Capital makes control investments in companies that are active in the outsourced business services sector and have EBITDA of $4 million to $12 million. The firm was founded in 2005 and is headquartered in Greenwich, Connecticut.
“We’re so pleased to see such a high level of participation from our existing limited partner relationships investing again in Southfield’s Fund III, many of whom meaningfully upsized from their Fund II commitments,” said Andy Levison, Southfield’s managing partner. “We also added several new relationships with industry-leading institutional investors, further validating our mission to invest in exceptional lower middle-market businesses and generate outstanding returns for our limited partners.”
Last month, Southfield acquired its first Fund III platform with the buy of Alba Wheels Up, a Long Island-based provider of brokerage and freight forwarding services for US importers and exporters.
Southfield Capital used Atlantic–Pacific Capital as its placement agent for this fundraise and Proskauer provided legal services.
© 2021 Private Equity Professional | April 9, 2021
