Pacific Avenue Capital Partners has closed its second fund, called Fund II, with over $1.65 billion in committed capital. This includes more than €100 million for a European sidecar fund. Both funds raised money rapidly—in under four months—and attracted more investors than anticipated.
Pacific Avenue focuses on buying businesses that are facing challenges, especially in the middle market. With offices in Los Angeles and Paris, the firm collaborates closely with management teams to help companies grow and enhance their performance. They have a strong reputation for making complex deals successful and for assisting businesses to achieve new success.
Investors in Fund II include public pension funds, consultants, endowments, foundations, insurance companies, funds of funds, and family offices. The first Pacific Avenue fund raised over $500 million in April 2023.
Support: Lazard served as the exclusive placement advisor to Fund II, and Weil, Gotshal & Manges LLP provided legal counsel.
KEY QUOTES:
“We are incredibly grateful for the strong support and confidence shown by our existing and new investors. The overwhelmingly strong demand for Fund II and the European sidecar is a clear validation of our strategy.”
“The successful and efficient fundraise is a testament to the quality of the Pacific Avenue team. The team’s disciplined execution of our strategy and emphasis on building meaningful relationships with sellers and management teams sit at the heart of our success. We look forward to scaling our strategy across a broader set of opportunities.”
Chris Sznewajs, Founder and Managing Partner of Pacific Avenue
