Nautic Closes its Largest Fund

Nautic Closes its Largest Fund

Nautic’s tenth fund follows its ninth fund which closed in March 2019 at its $1.5 billion hard cap

Nautic Partners, an active investor in the healthcare, industrials, and services sectors, has held a final hard cap closing of Nautic Partners X LP with $3 billion of limited partner commitments.

Nautic’s tenth fund is the largest fund the firm has ever raised and follows its earlier fund, Nautic Partners IX LP, which closed in March 2019 at its hard cap with $1.5 billion of limited partner capital.

Limited partners in Fund X include public and private pension plans, endowments, fund of funds, insurers and financial institutions, health systems, sovereign wealth funds, and family offices.

“We are privileged and fortunate to continue to have a high level of support from our limited partners, and we thank them for their efforts on an accelerated timeline during a very active market,” said Scott Hilinski, a managing director at Nautic.

As part of raising Fund X, Nautic has been actively adding to investment staff including hiring Milena Tantcheva in October as a managing director in its capital markets group; Carl Culicchia in September as a principal in its healthcare group; and in August it added Chris Gorman as a senior associate in its services group and Fielding Jenks as a senior associate in its industrials group.

“The team at Nautic continues to grow as we invest in the firm and in our people, and we will remain focused on our consistent strategy centered around a disciplined investment approach within our industry sectors of expertise, and an emphasis on value creation in partnership with our portfolio company management teams,” added Mr. Hilinski.

Providence, Rhode Island-headquartered Nautic makes majority equity investments of $50 million or more in companies that are active in the healthcare, industrial products, and outsourced services sectors. Typical transactions include leveraged buyouts, buy-and-builds, founder transitions, corporate carve-outs, and public to private.

Kirkland & Ellis provided legal services to Nautic on this fundraise.

© 2021 Private Equity Professional | November 2, 2021

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