Periscope Equity, a Chicago, IL-based private equity firm, closed its first institutional fund, with more than $104m of committed capital.
Periscope Equity I, L.P., received fund commitments from a distinguished group of limited partners, including endowments, pension funds, charitable foundations, fund-of-funds, family offices and high net worth individuals.
Led by Partners Steve Jarmel and S. Brian Mukherjee, Periscope Equity is a private equity firm dedicated to buyouts of technology-enabled business services companies within niche sector leaders that have unique technology, data, intellectual property, or service offerings; a history of sustainable profitability and cash generation; and known avenues for growth. Services sectors of focus include healthcare, marketing, security, software and BPO.
The firm provides portfolio companies with liquidity, growth capital and access to its network of operational experts, to drive sustainable growth.
Fund I will continue to execute Periscope’s investment strategy of control buyouts of founder or management-led lower middle market technology-enabled business services companies with mission critical product and service offerings, strong growth potential, and known opportunities to create value both organically and through acquisitions.
The firm’s principals completed eight investments across five pre-Fund platforms, three of which have been successfully exited. Fund I completed its first platform investment in May 2018, with its investment in Integrated Behavioral Health, Inc., a provider of comprehensive behavioral health and employee assistance, engagement and wellness products and solutions.