Sheridan Capital Partners Closes Fund III at the Hard Cap of $575m

Sheridan Capital Partners announced today the closing of its oversubscribed third buyout fund, Sheridan Capital Partners Fund III, LP and its parallel fund, at $575m in aggregate commitments, exceeding its target of $450m.

Sheridan is focused on making investments in lower middle market companies in recession resistant, non-discretionary markets within the healthcare industry. The Fund will continue Sheridan’s strategy of making control investments in North American founder-owned businesses with $3-20 million of EBITDA.

“We are incredibly pleased with the support from our global investor base, both existing and new, who allowed us to successfully close our third fund in a challenging macroeconomic environment,” stated Jonathan Lewis, Founder & Partner of Sheridan. “We are grateful for the continued confidence of our investors, and we look forward to pursuing a deep pipeline of opportunities to build a diversified, thesis-driven portfolio within lower middle market healthcare.”

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Investors in Fund III include a diversified, international mix of insurance companies, consultants, pensions, family offices, sovereign wealth funds and fund-of-funds, among other limited partners, located across North America, Europe and the Middle East.

Sean Dempsey, Partner of Sheridan, said, “We believe that healthcare has historically led both public and private returns across business cycles and we look forward to continuing to partner with founder-owned businesses where we can leverage our sector expertise and operational approach to accelerate growth and create long-term value for our investors, business owners and management teams.”

Sixpoint Partners served as the exclusive global placement agent for Fund III and Kirkland & Ellis LLP served as fund counsel.

Source: Business Wire

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