Midmarket-focused Nautic Partners aims to raise $2.5bn for its 10th buyout fund, according to a public document from Rhode Island’s public pension system.
If the Providence, R.I.-based firm hits its target, Nautic Partners X LP would be about 60% larger than its predecessor, Nautic Partners IX LP, which closed with almost $1.57bn in March 2019. The fund’s sponsor is expected to commit as much as $100 million to the new pool, documents from the pension system and its investment consultant said.
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Nautic is a middle-market private equity firm that focuses on three industries: healthcare, industrials, and services. Nautic has completed over 140 platform transactions throughout its 35-plus year history.
Nautic’s strategy is to partner with management teams to accelerate the growth trajectory of its portfolio companies via add-on acquisitions, targeted operating initiatives, and increased management team depth. Nautic generally makes equity investments of $50 million or more.
Source: Wall Street Journal
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