Palm Peak Capital, a private equity firm investing in lower-middle-market industrial and services companies across North America, has closed its inaugural fund, raising $374 million in total committed capital.
The fund, Palm Peak Capital Fund I, L.P. and Palm Peak Capital Fund I-A, L.P., was oversubscribed and reached its hard cap. Commitments came from a diverse group of global investors, including university endowments, institutional family offices, pension funds, insurance companies, and fund-of-funds.
Headquartered in Boca Raton, Florida, Palm Peak Capital was founded in 2024 by Steve Liff, Daniel Florian, and Jeremy Stone. The managing partners bring approximately 20 years of experience working together and focus on partnering with founders and management teams through a collaborative, process-oriented approach aimed at driving long-term value creation.
The firm targets control buyouts of fundamentally sound businesses with clear opportunities for operational improvement and growth. It provides integrated resources to management teams seeking to enhance performance and scale operations.
Since launching the fund, Palm Peak has completed platform investments in Pacific Shoring Products, a manufacturer of trench safety equipment, and Domaille Engineering, a provider of advanced equipment, components, and accessories used in the production of pre-terminated fiber optic cables and high-precision parts for mission-critical end markets.
Connaught (U.S.) LLC served as placement agent for the fundraise, while Kirkland & Ellis LLP acted as legal advisor to Palm Peak Capital.
According to the firm, the $374 million figure includes capital commitments from Palm Peak and its affiliates.
KEY QUOTES
“We are proud to announce the successful closing of our inaugural fundraise and are grateful for the strong support of our investors. This marks a significant milestone for Palm Peak Capital, reflecting our LPs’ confidence in our value-oriented, operationally focused investment strategy. After nearly two decades working together, and now with our exceptional team at Palm Peak, we are excited to continue partnering with outstanding management teams to build market-leading industrial and services businesses. We look forward to executing on our pipeline of compelling opportunities and expanding our high-quality portfolio alongside investors who share our vision for generating lasting value.”
Steve Liff, Daniel Florian, and Jeremy Stone, Co-Founders and Managing Partners of Palm Peak Capital
