Florida-based private equity firm Osceola Capital has closed its maiden fund after reaching its $125m hard cap.
The Osceola Fund I had initially been targeting $100m.
The oversubscribed vehicle received commitments from a diverse limited partner base which includes global public pension plans, financial institutions, a university endowment, family offices and several high net worth investors.
Capital from the vehicle has already been tapped to make investments across the facility & industrial, healthcare, tech-enabled, and business services sectors.
It claims to have deployed around $40m of its capital already.
The firm focuses on lower middle-market services companies, that have an EBITDA ranging between $2m and $10m.
Osceola director Will Newbrander said, “The Fund’s portfolio is very well positioned for the current macro environment and we believe that staying true to our strategy of paying appropriate multiples, utilizing light leverage, and carefully selecting industries with recession resilient qualities will reward Osceola’s investors.”
DLA Piper served as legal counsel for the Osceola Fund I fundraise.
Osceola managing partner Ben Moe said, “We are very enthusiastic about the existing portfolio and are pleased that the successful fundraise enables us to continue actively pursuing opportunistic investments and working collaboratively with management teams to create value for each stakeholder.”
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