The Halifax Group said Oct. 18 that its most recent fund closed at its $650 million hard cap. The target of Halifax Capital Partners IV LP was $550 million. Halifax said that about 90 percent of Fund IV’s LPs were prior investors, and nearly 75 percent increased the size of their commitments.
Washington, D.C., Dallas, Raleigh, October 18, 2017 – The Halifax Group (“Halifax”) is actively pursuing investments for Halifax Capital Partners IV, L.P. (“Fund IV”) after raising capital earlier this year and meeting its hard cap of $650 million. Demand for the fund offering exceeded its original target of $550 million.
David Dupree, Founder and Senior Partner, said, “With this fund, we responded to interest from existing investors, obviating the need to market the fund more broadly. We have shared a long-term relationship with our base of returning limited partners, in some cases over 18 years. In addition, we welcomed one new investor along with an investment team we know from past collaboration.”
“We are humbled by the support of our existing partners and their commitment to our team and our strategy,” added Halifax Partner Chris Cathcart. “We are excited about the opportunities in our market and look forward to working with a stellar group of investors in the years ahead.”
Fund IV’s investors are comprised of a diverse group of public and private pension funds, endowments and foundations, funds of funds, family offices, and insurance companies. Included among Fund IV’s limited partners are 24 previous or current Halifax portfolio company executives and board members. Approximately 90% of the investors in Fund IV are previous investors, and nearly 75% increased the size of their commitments.
Halifax Capital Partners III, L.P. (“Fund III”) closed in November 2012 with $393 million in commitments. Fund III most recently invested in a recapitalization of Delphi Behavioral Health Group. Since the Firm’s founding in 1999, The Halifax Group has invested in 59 companies.
Halifax will continue its strategy of making investments alongside managers of growing, entrepreneurial companies primarily in outsourced business services including supply chain services, franchising, health and wellness services, and infrastructure services throughout the United States and Canada. Halifax is often the first outside investor in a business.
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 with total enterprise values generally between $50 million and $250 million. Halifax invests across a variety of industries, including health and wellness, outsourced business services, franchising and infrastructure. The firm maintains offices in Washington, D.C.; Dallas, TX; and Raleigh, NC. For more information, please visit www.thehalifaxgroup.com.