Nautic closes Fund VIII raises $900 mln

Nautic Partners LLC said Monday it closed its eighth private equity fund at its $900 million hard cap. Nautic invests in three industries: healthcare, industrial products and outsourced services. The private equity firm began fundraising for Nautic Partners VIII in October.


January 11, 2016 06:00 AM Eastern Standard Time

PROVIDENCE, R.I.–(BUSINESS WIRE)–Nautic Partners, LLC (“Nautic”), a leading middle-market private equity firm that focuses on investments in the healthcare, industrial products, and outsourced services sectors, today announced that it has successfully completed its fund raising for Nautic Partners VIII (“Nautic VIII”). Nautic VIII closed on its hard cap of $900 million. Nautic began formal fund raising in October 2015 and raised its cap to $900 million after receiving strong demand from both new and existing investors.

“We are excited to announce our successful closing on Nautic VIII,” said Bernard Buonanno III, Managing Director at Nautic. “We believe the success of this fund raise is a strong endorsement of our ability to deliver long-term results for our investors. In Nautic VIII, we intend to continue to emphasize our expertise in our three primary sector verticals: healthcare, industrial products, and outsourced services. We have developed deep experience within these industries over the firm’s three decades of investing, and will seek to leverage the specialized knowledge and relationship networks we have generated in order to continue to drive performance for our investors. We will also remain focused on our strategy of improving the value of our portfolio companies by enhancing the depth of our management teams, initiating targeted operating initiatives, and closing add-on acquisitions that are both strategically and financially accretive.”

Founded as part of Fleet Bank in 1986, Nautic spun out in 2000 when it raised Nautic Partners V, its first independent fund. Nautic VIII is the firm’s eighth private equity fund and fourth independent fund.

Nautic’s managing directors, who have worked together at the firm for over 125 combined years, include Habib Gorgi, Bernard Buonanno, Scott Hilinski, Christopher Crosby, Douglas Hill, Christopher Corey, Christopher Pierce, and James Beakey. Select limited partners in Nautic VIII include AlpInvest Partners, Ardian, the Arizona State Retirement System, Brown University, the Employees’ Retirement System of the State of Rhode Island, HarbourVest, clients of J.P. Morgan Asset Management, LGT Capital Partners, Nebrodi Partners, New York State Teachers’ Retirement System, and Pathway Capital Management. Kirkland & Ellis LLP and Mercury Capital Advisors advised Nautic in connection with the formation of Nautic VIII.

About Nautic
Nautic is a middle-market private equity firm that focuses on three industries: healthcare, industrial products and outsourced services. Nautic has completed over 120 platform transactions throughout its 30-year history. Nautic’s strategy is to partner with management teams to accelerate the growth trajectory of its portfolio companies via add-on acquisitions, targeted operating initiatives, and increased management team depth. Nautic generally makes equity investments of $25 to $100 million. For more information,