The Halifax Group said Monday that its third buyout fund collected $393 million in commitment, which is more than its $350 million target. Investors of Halifax III include public and private pension funds, endowments and foundations, funds of funds, family offices, and insurance companies. Halifax targets lower middle-market businesses in health and wellness, infrastructure, business and government services and franchising. The firm’s second fund raised $305 million in 2006.
The Halifax Group, a private equity firm specializing in partnering with owners and managers of middle-market businesses, today announced the final close of its third buyout fund, Halifax Capital Partners III, L.P. (“Halifax III”). With commitments of $393 million, Halifax III exceeded its target of $350 million and the closing brings Halifax’s total committed capital under management to approximately $1 billion.
Halifax will continue its strategy of making investments alongside managers of growing, entrepreneurial companies primarily in business and government services, health services, infrastructure services and franchising throughout the United States and Canada. Halifax is typically the first outside investor in a business.
Investors in the fund include a well-diversified group of institutional investors. They include public and private pension funds, endowments and foundations, funds of funds, family offices, and insurance companies. Halifax III includes the majority of Halifax’s previous investors as well as a number of first-time investment partners. Halifax III made its first investment on October 31 in Interim HealthCare, Inc., one of the nation’s leading home healthcare franchisors.
“We could not be prouder to have assembled such a first class investor base. We are humbled by the trust and commitment our limited partners have placed in us to invest their capital, and the capital of their beneficiaries,” said David Dupree, CEO and Managing Director at Halifax. “We hope to reward their commitment and loyalty by being excellent stewards of their money and by building on our now 13-year history of investing in the lower middle market.”
Halifax’s previous fund raised $305 million and was closed in 2006.
XT Capital Partners, LLC, member FINRA/SIPC, led by their branch Avec Capital LLC, served as exclusive placement agent for Halifax III.
About The Halifax Group
The Halifax Group is a private equity firm that partners with managers and entrepreneurs to recapitalize and grow lower middle-market businesses across a variety of industries including health and wellness, infrastructure, business and government services and franchising. The firm maintains offices in Washington, D.C.; Dallas, TX; and Raleigh, NC. For more information, please visit www.thehalifaxgroup.com.