Chicago-based healthcare, food and beverage-focused private equity firm Shore Capital Partners has raised more than $440m across a pair of ‘one and done’ final closes for two new funds.
The firm pulled in $293m for its third dedicated healthcare vehicle, while its debut food and beverage fund raised $148m, with both vehicles beating their initial targets.
Closing Healthcare Partners Fund III and Food & Beverage Partners Fund I brings Shore’s total capital commitments across its funds to $1bn.
HC Fund III, which was initially hoping to raise $250m, will invest primarily in control buyouts, focusing on microcap healthcare businesses with revenues between $5m and $100m.
F&B Fund, which surpassed its original target of $125m, will aim to make control equity investments in food and beverage manufacturing, distribution, packaging, and related B2B service companies that have between $5m and $100m of revenue.
Shore founder and managing partner Justin Ishbia said, “We are thrilled and humbled by the reception these funds have received from such a highly-respected group of investors.
“Having the ability to expand our expertise and knowledge into the food and beverage space while simultaneously continuing our original healthcare-focused strategy is an attractive opportunity for our limited partners and firm as whole.
“As we strive to continue achieving a top-tier track record, we sincerely thank our limited partners who have instilled a significant amount of trust and confidence in our experienced and talented team of investment and operating professionals.”
He added, “In addition to our third healthcare-focused fund, we are very pleased to have successfully closed our inaugural food and beverage fund and look forward to partnering with entrepreneurs and seasoned executives to drive impactful growth.
“As has been the case for many years and various cycles, we are confident that the food and beverage industry will continue to present quality investment opportunities, particularly within a number of niche sectors.”
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