Periscope Equity, a Chicago-based private equity firm, has closed Periscope Equity III, L.P., with $370 million in commitments, surpassing its $300 million goal in under a year.
Fund III’s investors include both new and returning limited partners from university endowments, pension funds, foundations, consultants, funds-of-funds, and family offices.
Since its first institutional fund in 2018, Periscope has raised about $700 million across three funds, invested in 11 platforms, and completed 28 add-on acquisitions.
Support: Kirkland & Ellis LLP acted as legal counsel, and M2O Private Fund Advisors served as the placement agent.
KEY QUOTES:
“The oversubscribed and efficient closing of Fund III amid a difficult fundraising environment is a testament to Periscope’s strategy and consistent focus on first-institutional capital opportunities in founder-led services businesses. Our disciplined approach — combined with a commitment to rolling up our sleeves alongside management teams — has enabled us to realize meaningful returns amid broader market headwinds.”
Periscope Partner Steve Jarmel
“We’re excited about the opportunities ahead as we continue to invest in the next generation of services businesses. Our mission has been the same since day one — to back founder-owned, tech-enabled services businesses and partner with them on needle-moving strategic growth initiatives and operational excellence.”
Periscope Partner John Findlay
