Speyside Private Fund Advisers closed its debut fund on $130 million to focus on the specialty chemicals, industrials/metal forming and food ingredients sectors. Fund I was raised in less than four months and beat its original $75 million target.
Speyside Private Fund Advisers, LLC (“Speyside”), a special situations buyout firm, has announced the closing of Speyside Equity Fund I LP (the “Fund”), a $130 million buyout fund that will focus on investment opportunities in specialty chemicals, industrials/metal forming & food ingredients businesses and continue the disciplined investment approach that Speyside has successfully executed for the past 10 years.
Investors in Speyside Equity Fund I LP include a blue chip roster of leading institutional limited partners such as, endowments, foundations, insurance companies, fund of funds, public and private pensions, and family offices.
The Fund was closed in less than 4 months of fundraising and was four times oversubscribed to its original $75 million target.
“We wanted to move toward a more traditional investor base in Speyside Equity Fund I LP and we are grateful to welcome such high caliber institutions as partners,” said Managing Director Jeffrey A. Stone. “The strong response we received during the fundraising process is a testament to our team and the success we have had utilizing our own capital to generate outsized returns. We look forward to investing the Fund and continuing our tradition of uncovering unique opportunities in industries we know well.”
Speyside Equity Fund I LP will be managed by a seasoned group of operations and investment professionals who have worked together for many years and have substantial investing, operating and industry experience. The investment team’s diverse and complementary backgrounds give Speyside a strong combination of industrial, entrepreneurial, operational and transactional expertise.
The Fund’s placement advisor was GCA Savvian Advisors, LLC and Fund counsel was Proskauer Rose LLP.
About Speyside Private Fund Advisers LLC
Formed in 2005, Speyside employs an operationally intensive approach to investing in specialty chemicals, industrials/metal forming & food ingredients businesses. It targets companies with a history of strong revenue, a defensible position in their respective markets, and a core group of managers that can move the business forward. Speyside prefers situations where there are opportunities to leverage its operating expertise to improve financial performance and create sustainable long-term value.
Since its formation, Speyside has successfully executed numerous platform investments and add-on acquisitions using its own capital. The team made its first investment in Sweet Ovations, a food ingredient company, in 2005 and had its first exit in 2010 when it sold Stahl Specialty Company. This principal-driven investment philosophy and approach will continue in its recently closed fund. speysideequity.com
About GCA Savvian Advisors, LLC
GCA Savvian is a premier global investment bank serving growth companies through a range of services that include mergers and acquisitions, capital markets, private funds and restructuring advisory. GCA Savvian professionals deliver deep expertise in a range of industries such as technology, media & digital media, communications, healthcare, financial institutions, industrials, consumer and retail. The firm is headquartered in San Francisco, with global offices in Tokyo, New York, London, Mumbai, Osaka, Shanghai, and Singapore. GCA Savvian’s Private Funds team leverages over 85 years of combined transaction experience and multiple successful fundraisings for a variety of private equity strategies. The private funds group team members have raised capital for domestic and international buyout, venture capital, mezzanine, restructuring/turnaround, growth capital and real asset funds.
About Proskauer Rose
Proskauer is a leading global law firm focused on creating value for its clients. Headquartered in New York, Proskauer has more than 700 lawyers active in virtually every major market worldwide. Proskauer is one of the most active law firms in the private equity industry and provides a comprehensive range of services to clients globally, from fund formation to exits to everything in between. www.proskauer.com