Shore Capital Partners, a strategic private equity firm focused on microcap investing, announced the closing of its second Food & Beverage fund, Shore Capital Partners Food and Beverage Fund II. With this closing totaling $291.75m, Shore now manages a total committed capital base of approximately $3bn.
F&B Fund II is led by Shore Founder and Managing Partner Justin Ishbia, Partner Richard Boos, and Principals Tom Smithburg, Jeff Smart and Jeff Smith. F&B Fund II will continue the successful investment strategy employed by Ishbia and Boos and will invest primarily in food & beverage manufacturing, distribution, packaging and related B2B service companies that have between $5m and $100m in revenue.
F&B Fund II surpassed its original target of $250m and was substantially oversubscribed. Commitments came from the firm’s existing investors and select new limited partners, resulting in a diverse investor base comprised of leading university endowments, financial institutions, funds of funds and family offices. Additionally, the partners of Shore have committed to invest a substantial amount of capital to the fund.
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“We are grateful and proud to have the continued support of our limited partners and are pleased to have successfully closed our second food and beverage fund,” said Ishbia. “This distinguished group of investors has instilled a significant amount of trust and confidence in our talented team of investment and operating professionals, and we look forward to partnering with more entrepreneurs in the food and beverage industry to help them unlock substantial growth.”
“The food and beverage industry continues to be ripe for innovation in several areas,” said Boos. “We look forward to continuing the successful investment strategy we launched with F&B Fund I and providing more business owners with the capital, resources and operational expertise to help them become regional and national powerhouses.”
Kirkland & Ellis LLP served as legal advisor to Shore Capital Partners for the fundraising efforts. Shore did not use a placement agent.
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