Searchlight raises $3.4bn for third fund

Searchlight Capital has closed its third fund at $3.4 billion.

Searchlight Capital has closed its third fund at $3.4 billion. The fund will target investments in North America and Europe. Latham & Watkins LLP served as legal counsel to the fund.

PRESS RELEASE

18th November, 2020: Searchlight Capital Partners, L.P. (“Searchlight” or “the Firm”), a leading global private investment firm, today announced the final close of Searchlight Capital III, L.P. (“the Fund”), with total committed capital of $3.4bn. This is the third private equity fund the firm has raised since it was founded in 2010.

“We are truly grateful for the support of our investors,” the Founding Partners of Searchlight said. “The Firm’s capital structure flexibility, industry expertise, and geographic reach position us very well to invest in this unprecedented environment. The Fund is already 30% committed to investments in partnership with leading management teams and entrepreneurs.”

Like its predecessors, Searchlight’s latest Fund will target investments in North America and Europe, leveraging the Firm’s teams in both geographies to pursue opportunities in a range of sectors including communications, media and financial and business services, amongst others.

Latham & Watkins LLP served as legal counsel to the Fund.