Parthenon Capital Partners, a middle-market private equity shop, has closed its latest fund, Parthenon Investors IV, L.P., with $700 million. Based in Boston and San Francisco, Parthenon Capital focuses on business services, financial and insurance services and healthcare investments. –cn
Parthenon Capital Partners, a leading middle market private equity firm with offices in Boston and San Francisco and over $2.0 billion of capital currently under management, announced today its affiliate, Parthenon Investors IV, LP (“PCP Fund IV”), held its final closing with $700 million in commitments. PCP Fund IV exceeded its initial fund target of $600 million and hit its “hard cap” of $700 million.
“We appreciate the support we received from our existing limited partners and are also excited about the relationships we’ve developed with an outstanding group of new investors,” said Brian Golson, Managing Partner and San Francisco Office Head. “We’re pleased that investors recognized our differentiated strategy, significant focus on proactive research, and strong track record,” added David Ament, Managing Partner and Boston Office Head.
William Kessinger, Parthenon Capital Partners’ Chief Investment Officer, stated, “We’re thrilled to have the fundraise complete and to be able to get back to doing what we enjoy most — working with exciting growth companies in financial services, healthcare and business services.”
Ropes & Gray LLP was counsel to PCP Fund IV, while Kirkland & Ellis represented Parthenon Capital Partners for all management company documentation.
ABOUT PARTHENON CAPITAL PARTNERS
Parthenon Capital Partners is a leading mid-market private equity firm based in Boston and San Francisco. Parthenon utilizes niche industry expertise and a deep execution team to invest in growth companies in service industries. Parthenon seeks to be an active and aligned partner to management, either through recapitalization transactions or by backing new executives. Parthenon has particular expertise in business services, financial and insurance services and healthcare, but seeks any service, technology or delivery business with a strong value proposition and proprietary know-how. For more information, visit www.parthenoncapitalpartners.com