- San Francisco-based private investment firm SkyKnight Capital has closed $250 million for the Fund II investment vehicles
SkyKnight Capital, L.P. — a San Francisco-based private investment firm — recently announced the final closing of SkyKnight Capital Fund II, L.P. (“Fund II”) and SkyKnight Capital Fund II Annex, LLC (“Annex”) oversubscribed at more than $250 million in total capital commitments. Launched in 2015, SkyKnight manages more than $750 million in assets across all of its funds and co-investment vehicles on behalf of institutional family offices and leading foundations and endowments.
“We are grateful for our highly strategic set of limited partners who have supported us and entrusted us with their capital. In Fund II, we will continue to invest in healthcare and business services companies where we can execute a long-term buy and build strategy,” said Matthew Ebbel — founder and managing partner of SkyKnight.
SkyKnight is known for partnering with high-quality businesses in acyclical growth sectors alongside exceptional management teams Typically SkyKnight makes equity commitments ranging from $20 million to more than $200 million.
“We are pleased to have exceeded our fundraising goal while also completing five platform investments for Fund II and Annex. We believe our ability to execute significant minority and small majority transactions compounded with our emphasis on long-term value creation for all shareholders is unique in the private equity industry,” added SkyKnight partner Mara Hunt.
Along with the Fund II announcement, SkyKnight also made a significant investment into Watco — which is the largest private short line railroad in North America.
“Fund II and Annex are off to a terrific start, with several investments made, including AmWINS, the nation’s leading wholesale insurance broker; WhiteWater Express, a buy and build platform in the car wash sector; symplr, a market-leading provider of healthcare SaaS solutions; Heffernan, an independent retail insurance brokerage platform; and MedVet, a leading independent operator of specialty and emergency veterinary hospitals. We continue to find compelling opportunities as a result of our proactive sourcing process and strategic relationships,” explained SkyKnight partner Claude Burton.
Ropes & Gray LLP served as the fund counsel and Deloitte LLP was the auditor. The firm engaged no intermediary to assist in fundraising.
