Palm Beach Capital said Wednesday that it has raised $133.5 million with its third fund. The PE firm invests in lower middle market companies located mainly in the state of Florida.
Palm Beach Capital, a leading private equity firm dedicated to investing in the securities of lower-middle market private companies located primarily, but not exclusively, in the state of Florida has announced the closing of its third equity fund, Palm Beach Capital Fund III, L.P., which together with an affiliated fund totals $133.5 million.
Fund III will follow the same proven investment strategy utilized in Palm Beach Capital’s prior two equity funds. It will generally invest between $3 million and $20 million in each portfolio company, utilizing flexible capital structures that both aligns interests with management and enable the company and its shareholders to realize their goals, while mitigating risk with below market, conservative use of leverage. As with its previous funds, the firm will continue to invest exclusively in small market companies, generally defined as businesses with revenues of $10 million to $100 million, enterprise values between $10 million and $100 million, and EBITDA between $3 million and $15 million. Palm Beach Capital expects to invest the fund in a broad range of industries on both minority and majority ownership bases.
About Palm Beach Capital
Founded in 2001, Palm Beach Capital is a private equity investment firm which specializes in making investments in and building early and middle-stage private companies. With offices in both West Palm Beach and Tampa, Florida, the firm focuses on high growth investment opportunities. Since its inception, Palm Beach Capital has made investments in 32 companies and has approximately $325 million in total assets under management. For more information, please visit the firm’s website at www.pbcap.com.