Seaside Equity Partners, a private equity firm focusing on the lower middle market, announced the closings of two new funds: Seaside Equity Partners III and Seaside Navigator I, with over $720 million in commitments. These funds enable Seaside to partner with exceptional companies to drive growth and value creation in the lower middle market.
Seaside gained support from various limited partners, including endowments, foundations, pensions, insurance companies, consultants, and family offices. Fund III, with $568 million, and Navigator I, with $155 million, were oversubscribed and closed in a single round.
These funds will target mission-critical service providers in the Western U.S. Seaside Fund III will focus on companies with $3 million to $15 million EBITDA, while Navigator I aims at companies under $3 million EBITDA, which Seaside sees as promising for value creation.
With these funds, Seaside manages about $1.4 billion across over 55 investments. The new capital enhances its ability to partner with lower middle market businesses seeking growth, liquidity, and strategic resources.
Support: Shannon Advisors served as placement agent, and Kirkland & Ellis provided legal counsel for the fundraise.
KEY QUOTES:
“We are fortunate with the outcome and most grateful to our investors, companies, and colleagues for their support and trust. Fund III and Navigator I represent a significant step forward for our firm, allowing us to expand upon our existing strategy while continuing our pursuit of a great outcome for all.”
Managing Partner Andrew Thompson
