Atlantic Street Capital Closes Fund IV
 At $500 Million Hard Cap

By Noah Long ● September 9, 2019
  • Private equity firm Atlantic Street Capital announced it has closed Atlantic Street Capital IV, LP at a hard cap with $500 million of capital commitments

Atlantic Street Capital — a private equity firm targeting entrepreneurial businesses poised for the next level of growth — announced the closing of Atlantic Street Capital IV, LP at a hard cap with $500 million of capital commitments. The closing is above its $450 million target.

“We are grateful for the support of our investors and look forward to working with them for many years to come as we continue to build our portfolio of companies, and help those companies professionalize and grow. This is an exciting new chapter for us and we are working with a strong and unified team that collaborates with entrepreneurs and management teams to help build their businesses into industry leaders that will thrive well into the future,” said Atlantic Street Capital managing partner Peter Shabecoff.

Atlantic has built a portfolio of investments across its industry specializations within healthcare services, multi-unit retail, and business services. Some of the select Fund III investments include Lab Logistics, PLNTF Holdings, Inc. (Planet Fitness franchisee), and GAT Airline Ground Support. So far in 2019, Atlantic Street has completed three platform acquisitions and 10 add-on investments across its active funds and completed a successful exit of its Fund II investment Alex Apparel Group.

“Over the course of our fundraise, we’ve been able to broaden our investor base and welcome a select group of new global investors. We appreciate the support of our limited partner base and excited to continue to deploy capital from our new fund into the robust pipeline of investment opportunities we are currently pursuing.” He added, “We’re thankful to Debra Draughan of Top Capital for her advice and assistance in our fundraising process,” added Atlantic Street Capital managing partner Andrew Wilkins.

This new fund generated high demand from new and existing investors comprised of leading U.S. and international institutional capital, including public and private pension plans, endowments and foundations, investment advisors, family offices, fund of funds, and financial institutions. The previous Fund III was completed in 2016 with $210.5 million of committed capital.

Some of Atlantic’s executives also include Bryan Bevin (senior operating advisor), Kevin Graff (operating advisor), Iris Rosken (CFO), Phil Druce (partner), George Parry (partner), Pat Jones (operating advisor), Rizwan Khan (operating advisor), Grant Marcks (principal, head of business development), Matt Bergin (vice president), Karen Kuehneman (operating advisor), Robert Myers (operating advisor), Andrew Shear (vice president), Joe Solano (vice president, business development), Lee Roever (operating advisor), Scott Sider (operating advisor), Paul Sun (vice president), Ashish Shetty (vice president), Susan Stautberg (operating advisor), Tim Sutton (operating advisor), and Tammie Valentini (operating advisor).

Morrison Cohen, LLP provided legal counsel to Atlantic Street Capital for the fundraising process.