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Seidler Equity Partners VI hits hard cap, closes at $600 mln

  • First and final close for sixth PE fund on Oct. 31
  • Fundraising took <60 days; investing to start quickly
  • Firm partners with owner-operators across sectors

Seidler Equity Partners has reached a first and final close on its sixth private equity fund, hitting the hard cap of $600 million, a person with knowledge of the process told Buyouts.

Fundraising for Seidler Equity Partners VI took less than 60 days, with a high re-up rate from existing LPs and a couple of new investors, the person said. The firm expects to start investing the fund quickly.

Based in Marina Del Rey, California, Seidler invests in companies with EBITDA of $10 million to $50 million, partnering with owner-entrepreneurs looking to grow their businesses.

Seidler has no specific industry focus; portfolio companies have included gym chain L.A. Fitness, music publisher Hal Leonard, outdoor sporting goods retailer Sportsman’s Warehouse and orthopedic manufacturer Paragon Medical. Seidler takes both majority and minority positions, according to its website, and has held some stakes for more than a decade.

Founded in 1992 by brothers Peter and Robert Seidler, the firm launched its first institutional fund in 2000. Seidler Equity Partners V closed at $337 million in 2014 and is almost fully invested, with some follow-ons and possibly one more deal to come, the person said.

Action Item: Check out Seidler’s Form ADV here: http://bit.ly/2jejmEK.

Marina Del Rey harbor entrance in California. Photo courtesy Xavier Marchant/Hemera/Getty Images