Shore Capital Partners, a Chicago, IL-based strategic private equity firm focused exclusively on the healthcare industry, closed its second institutional fund, at the hard cap of $190m.
Shore Capital Partners Fund II, raised in less than three months, surpassed its original target of $150m and was substantially oversubscribed by existing investors, plus select new limited partners, including university endowments, financial institutions, funds of funds and family offices.
Fund II will continue the firm’s investment strategy and invest primarily in control buyouts, focusing on microcap healthcare businesses.
Led by Justin Ishbia, Founder and Managing Partner, Shore Capital Partners invests in businesses with growth potential in favorable niche segments in healthcare services, medical products and consumer‐directed healthcare. Target investments range in size from $1 to $7 million in EBITDA.
Shore targets equity commitments of $10 to $30m per platform and grows companies through both organic initiatives and strategic acquisitions.
Beyond Ishbia, partners include Ryan Kelley, Mike Cooper, John Hennegan and Don Pierce, who have been investing together since 2009, completing 50 acquisitions across 13 platforms. Chris Mioton has been promoted to Principal.
With the new vehicle, Shore now manages a total committed capital base of approximately $350m.
Kirkland & Ellis LLP served as legal advisor to Shore Capital Partners for the fundraising efforts.