Timber Bay Partners, a Cincinnati-based private equity firm focused on GP-led secondary transactions, has announced the final close of Timber Bay Fund III at $281 million in total capital commitments.
The firm said the raise was supported by both new and existing institutional investors, including foundations, endowments, family offices, and health systems, and that the fund closed above target.
Timber Bay framed the fundraising in the context of continued capital concentration toward the largest private equity managers and multi-strategy platforms, arguing that the lower-middle market remains attractive for specialists able to navigate complexity and source proprietary opportunities. The firm said it will continue to focus on highly structured, negotiated GP-led secondaries across buyout and growth equity strategies.
Timber Bay said it has approximately $1.1 billion in assets under management and targets North American companies across industrial, consumer, healthcare, and technology sectors.
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“Our team has been investing in this space since 2008, and as the opportunity set continues to broaden, we remain committed to a disciplined, highly selective investment approach. We’re grateful for the deep alignment with our existing investor base and their continued support, which enabled us to close above our target.”
Joe Woods, Founder and Managing Partner, Timber Bay Partners
