Balance Point Capital has closed its third fund at about $380 million, beating its $300 million target. Balance Point Capital Partners III’s limited partners include pension funds, insurance companies and other asset allocators. The fund will invest in the lower middle market. Lazard was the placement agent.
WESTPORT, Conn., Oct. 18, 2018 /PRNewswire/ — Balance Point Capital (“Balance Point”), has held a final close on Balance Point Capital Partners III, LP (“BPCP III”) with capital commitments of approximately $380 million, exceeding the fund’s initial target of $300 million. BPCP III received commitments from both existing and new investors including pension funds, insurance companies and other asset allocators. Lazard served as placement agent to Balance Point in raising BPCP III.
BPCP III is Balance Point’s fifth investment vehicle designed to capitalize on investment opportunities within the lower middle market by providing differentiated, credit-oriented financing solutions. BPCP III will focus on directly originating, underwriting and actively managing a diversified portfolio of customized private debt and equity investments. The fund’s flexible product suite will invest across the capital structure including first and second lien debt, unitranche debt, subordinated debt and equity.
Seth W. Alvord, Managing Partner of Balance Point Capital, stated “We are extremely pleased with the strong reception BPCP III received from both new and returning limited partners. We believe this level of investor support is a direct result of the quality of work done by the Balance Point team over the past 10 years. BPCP III provides us with the capital necessary to continue executing upon our strategy of being the partner of choice for companies and private equity investors seeking customized financing solutions to provide operational flexibility and support strategic growth.”
Justin Kaplan, Partner of Balance Point Capital, added “We are deeply grateful for the support and ongoing trust of our existing and new limited partners. We continue to see exciting opportunities to deploy capital in the lower middle market and BCPP III will enable us to continue providing value-added solutions to our partners while leveraging the core strengths of our platform: certainty, flexibility and customization.”
About Balance Point Capital
Balance Point Capital is an alternative investment manager focused on the lower middle market. With approximately $835 million in assets under management as of September 2018, Balance Point invests debt and equity capital in select lower middle market companies across a variety of investment vehicles. We take a long-term, partnership approach to investing and are committed to building lasting relationships with our partners, management teams and intermediaries.
Balance Point Capital Advisors, LLC (referred to herein as Balance Point Capital) is a registered investment adviser. Further information is available at www.balancepointcapital.com.