- Pamlico Capital — a leading lower middle-market private equity firm focused on growth-oriented businesses — announced the first and final close of Pamlico Capital V with total commitments of $1.4 billion
Pamlico Capital — a leading lower middle-market private equity firm focused on growth-oriented businesses — announced the first and final close of Pamlico Capital V (“PC V”) at the fund’s hard cap with total commitments of $1.4 billion. And PC V was well oversubscribed with demand from existing and new investors significantly exceeding the original $1.25 billion target.
The commitments to PC V came from a diverse group of global investors comprised of leading funds of funds, insurance companies, corporate and foreign pension funds, endowments, foundations and family offices. And Pamlico said it is proud to have partnered with a distinguished group of limited partners and to have raised over $4.3 billion in aggregate commitments since 2002.
“We are honored to have raised PC V so quickly and with such strong demand, including participation from nearly all PC IV investors and from a number of new investors,” said Pamlico Partner Art Roselle. “PC V will continue our history of partnering with talented managers, often as a company’s first institutional investor, to accelerate growth and ultimately build industry-leading businesses. We remain focused on pursuing the strategies that have made us successful over time, which include a commitment to the lower middle market and our three core industry verticals, along with continuous investment in value creation capabilities that support our portfolio company managers.”
Like Pamlico’s previous funds, PC V will seek equity investments of $25 million to $125 million in growing companies with total enterprise values of between $50 million and $350 million. And Pamlico remains focused on equity and buyout opportunities within the business and technology services, communications, and healthcare sectors in North America.
The firm’s investment strategy utilizes the team’s deep industry expertise and proven value creation strategies to identify attractive sub-sectors within its target industries and specific opportunities where Pamlico can take an active role in helping management teams build value for shareholders.
“We are grateful not only for the success of PC V, but also for the confidence investors have placed in us over the years,” explained Pamlico Partner Eric Eubank. “We’ve maintained our focus and delivered consistently strong returns across numerous cycles since 1988, and through PC V, will look to capitalize on what we continue to believe are attractive opportunities to partner with talented managers and build great companies going forward.”
