Broadtree Partners, a Charlotte-based lower middle-market private equity firm, has closed a multi-asset continuation fund with approximately $240 million in total commitments. The fund, which closed in March 2026, was formed to provide shareholder liquidity and committed follow-on equity for growth investments in four existing portfolio companies. The transaction was led by Adams Street Partners, with additional commitments from new and existing Broadtree investors.
The four companies included in the Continuation Fund are Semify, a provider of proprietary technology and AI-optimization solutions for digital marketing at scale; Sayres Defense, a mission-critical government services platform serving defense and homeland security clients; Triage Partners, a technology-enabled services and software provider for the telecom sector focused on fiber installation, repair, and construction; and Seanair, a manufacturer of high-precision parts for aerospace and defense systems.
The portfolio reflects Broadtree’s areas of deep expertise including government contracting, tech-enabled services, and marketing technology. Each company has scaled significantly since Broadtree’s initial acquisition, and the continuation fund structure provides additional capital to execute on organic growth initiatives and accretive mergers and acquisitions.
Adams Street Partners is a global investment firm managing $65 billion in assets across private equity, private credit, and evergreen fund strategies, operating out of 15 offices globally.
Support: William Blair served as exclusive financial advisor to Broadtree and placement agent for the Continuation Fund. Kirkland & Ellis LLP and Holland & Knight LLP served as legal advisors to Broadtree Partners and the portfolio companies. Jones Day served as legal advisor to Adams Street Partners.
KEY QUOTES:
“We are very excited to partner with Adams Street on this important transaction. We share a similar vision and high conviction for these businesses, and we are excited to have like-minded partners for the next chapter of this journey. Additionally, we are grateful for the support of our existing investors and excited to have many of them reinvesting in these businesses alongside us. We look forward to working hand-in-hand with our management teams to build off a highly successful first chapter, and continue scaling these companies.”
Brad Batten, Managing Partner, Broadtree Partners
“We target secondary investment opportunities with high-growth businesses alongside experienced, well-aligned managers. We are excited to partner with Broadtree on this transaction, which aligns well with our strategy and provides the portfolio companies with additional capital and time to support their next phase of growth.”
Joe Goldrick, Partner, Adams Street Partners
