By Iris Dorbian
Greenwich, Connecticut-based Southfield Capital, a lower middle market private equity firm, has closed its second oversubscribed fund at a hard cap of about $200 million, beating its $175 million target. Southfield Capital II’s limited partners include U.S., European and Middle Eastern family offices, fund of funds, insurance companies, public pensions and a private bank. Stonington Capital Advisors was the placement agent while Proskauer Rose provided legal counsel to Southfield Capital.
GREENWICH, CT – Southfield Capital, a leading lower middle market private equity firm, announced today its final close of Southfield Capital II (“Fund II”) at approximately $200 million in capital commitments, reaching its hard cap and exceeding its target of $175 million in capital commitments.
Stonington Capital Advisors acted as the exclusive global placement agent for Southfield’s fundraise.
Fund II was oversubscribed, attracting commitments from a diverse group of institutional investors including US, European and Middle Eastern family offices, fund of funds, insurance companies, public pensions and a private bank. Fund II will continue Southfield Capital’s strategy of making buyout investments in high-growth, lower middle market companies in the outsourced business services and specialty finance sectors.
Southfield Managing Partner Andy Levison commented; “We are grateful for the confidence and support our highly respected investors and look forward to continuing our efforts on their behalf in the lower middle market”.
Justin Garrod, a Managing Partner of Stonington commented: “We are elated at the success of this fundraise and believe the demand from such a blue chip list of investors speaks to the pedigree and track record of the Southfield Capital team.”
Dana Pawlicki added: “We believe Southfield’s success also evidences a continuing shift of institutional investors seeking higher returns by investing in the lower middle market where valuations have remained more stable and growth opportunities are more abundant.”
Proskauer Rose acted as legal counsel to Southfield Capital.
About Southfield Capital Southfield Capital is a private equity firm that invests in high-growth, lower middle market companies in the outsourced business services and specialty finance sectors. The firm targets companies with $4 – 12 million in EBITDA and partners with management to scale the business through a combination of organic and acquisition growth strategies. For more information, please visit www.southfieldcapital.com.