Parallax Capital Partners has raised over $115 million in the final close of its first fund. Atlantic-Pacific Capital served as placement agent. The fund focuses on lower middle market software and related tech firms.
NEW YORK & LONDON & HONG KONG–(BUSINESS WIRE)–Atlantic-Pacific Capital, the largest privately-owned global placement agent and advisory firm, announced the final closing of Parallax Capital Fund, L.P. (the “Fund”) with over $115 million of capital commitments. Atlantic-Pacific Capital was the global placement agent for the Fund.
Managed by Parallax Capital Partners (“Parallax” or the “Firm”), the Fund received support from a leading group of institutional investors, including foundations, endowments, pensions, and consultants. The Fund is continuing Parallax’s strategy of making control equity investments in lower middle market software and related technology companies, which the Firm has executed since its inception in 1999. The Fund has completed three investments to date.
Jim Weidner, Partner at Atlantic-Pacific, said, “We were honored to have had the opportunity to represent Parallax on its inaugural fund. Investors were drawn to the Firm’s focused strategy of investing in underperforming software companies in the small end of the market, the depth of its in-house operations team, and its impressive track record.”
Jim Hale, Founder and Managing Partner at Parallax, added, “Atlantic-Pacific provided critical expertise in raising our first institutional fund and was instrumental in expanding our investor base in the institutional investor community. We are grateful for the support from our highly respected limited partners, and we are sharply focused on investment strategy that we have used in the past.”
About Atlantic-Pacific Capital (www.apcap.com)
Atlantic-Pacific Capital is the largest privately-owned global placement agent and advisory firm dedicated to raising capital for alternative investments. Since 1995, the firm has executed over 70 capital raising assignments aggregating over $50 billion for an extraordinary group of alternative asset managers. Typical projects include private equity, real estate and infrastructure fund placements, as well as secondary advisory mandates. With experienced professionals on the ground in New York, Greenwich, Chicago, San Francisco, London, and Hong Kong, Atlantic-Pacific maintains a global network of trusted relationships with institutional and high net-worth investors.
About Parallax Capital Partners (www.parallaxcap.com)
Parallax Capital Partners is a California-based private equity firm focused on making control equity investments in lower middle market software and related technology companies, with a specific focus on companies with revenues between $5 and $100 million where Parallax believes there are creative opportunities to significantly enhance a company’s value. Since 1999, Parallax has participated in over 20 transactions representing over $250 million in transaction value. The Firm considers complex transactions or turnarounds including leveraged buy-outs, recapitalizations, corporate divestitures, spin-offs, and build-ups.