Shore Capital Partners, a Chicago, IL-based private equity firm focused on the healthcare and food & beverage industries, closed two funds, totalling $439m.
The closings include:
– Shore Capital Healthcare Partners Fund III, its third institutional healthcare private equity fund at $293m, and
– Shore Capital Food & Beverage Partners Fund I, its inaugural food & beverage fund, at $148m.
Commitments came from the firm’s existing investors, plus select new limited partners. Together, the funds attracted interest from many institutions in North America, resulting in a diverse investor base comprised of leading university endowments, financial institutions, funds of funds and family offices. Additionally, the partners of the firm have committed to invest a substantial amount of capital alongside both funds.
Shore Capital Healthcare Partners Fund III will continue the investment strategy employed by the firm’s partners Justin Ishbia, Ryan Kelley, Michael Cooper, John Hennegan, Don Pierce and Chris Mioton. It will invest primarily in control buyouts, focusing on microcap healthcare businesses with revenues between $5 million and $100 million.
Shore Capital Food & Beverage Partners Fund I, the newly established vehicle led by Justin Ishbia and Richard Boos, aims to make control equity investments in food & beverage manufacturing, distribution, packaging, and related B2B service companies that have between $5 million and $100 million of revenue.
Led by Justin Ishbia, Founder and Managing Partner, the firm now manages a total committed capital base of more than $1 billion through various investment vehicles.