Lower middle-market private equity firm Shoreline Equity Partners, has held the close of its second private equity fund, Shoreline Equity Partners Fund II (SEP II), with $450m in limited partner commitments, in excess of its original $400m target.
SEP II, which began fundraising in October 2022, attracted ‘significant’ support from the Shoreline’s existing investor base as well as new investors. The firm’s general partners and its executive network also contributed significant capital to the fund.
Since Shoreline’s launch in March 2019, the firm, which focuses on working with management teams of lower middle market companies with EBITDA typically ranging between $5m and $25m, has invested in seven platforms and completed over 25 add-ons.
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“We are very grateful to all of our limited partners for their continued support as well as the hard work put in by our growing team at Shoreline,” said Mike Hand, Managing Partner. “We do not take lightly the trust our blue-chip partners have placed in us in an incredibly difficult fundraising environment. The overwhelming interest in SEP II further solidifies the value in our approach and strength of the team we have built.”
Shoreline had strong support across its diversified limited partner base comprised of insurance companies, fund of funds, pension and retirement funds, family offices and high net worth individuals. Shoreline’s general partners and its executive network also contributed significant capital to the fund.
“Since inception, Mike and I have been focused on building a diverse base of limited partners with a variety of investment experiences. We believe that the ability to leverage the collective experiences across our investor base offers tremendous value,” said Peter Franz, Partner. “We take pride in the relationships we have cultivated over many years with each of our investors who continue to support Shoreline’s investment strategy.”
M2O Private Fund Advisors LLC acted as the exclusive placement agent, and Ropes & Gray LLP provided legal counsel to Shoreline.
Source: The Star Phoenix
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