Hidden Harbor has held a final closing of Hidden Harbor Capital Partners III LP with $800 million of limited partner commitments.
Limited partners in Fund III include both existing and new investors with total demand well in excess of the fund’s self-imposed hard cap.
Fund III follows Hidden Harbor’s two prior funds, Hidden Harbor Capital Partners I LP which closed in January 2019 with an above-target $265 million of capital; and Hidden Harbor Capital Partners II LP, which closed on $450 million of capital in January 2022.
Boca Raton-based Hidden Harbor was formed in May 2016 by John Caple, a former partner of Comvest Partners; David Block, the former CEO of Swiss Watch International and a former operating partner at H.I.G. Capital; and Christopher Paldino, a former managing director at H.I.G. Capital.
“Our team is thrilled with the support we have received from both new and existing investors,” said Mr. Caple. “This is a tremendous accomplishment and a testament to the hard work our entire team has put forth in building the Hidden Harbor platform.”
“We are excited to leverage the repeatable processes and systems we have developed and continue to execute our investment strategy,” said Mr. Block. “We look forward to continuing to partner with portfolio companies to build strong teams and execute our value creation engine.”
Hidden Harbor makes investments in North American-based companies across a range of sectors with revenues of up to $500 million and EBITDA up to $30 million.
“We believe our guiding values and investment approach are differentiated in the marketplace and align well with investors looking for operationally oriented private equity managers,” said Mr. Paldino.
Hidden Harbor used Lazard as its Fund III placement agent and Kirkland & Ellis provided legal services.
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