Shore Capital Partners Raises Nearly $2B Across Three Funds
Shore Capital Partners, a private equity firm focused on lower-middle market investments, amassed more than $1.9 billion for its debut Healthcare Advantage Fund, second Business Services Partners Fund, and first Shore Search Partners Fund, bringing the firm’s assets under management to $9.1 billion.
The Healthcare Advantage Fund, spearheaded by founding partners Mike Cooper and John Hennegan, will invest in appealing healthcare sectors and enhance collaborations with promising companies within Shore’s current healthcare portfolio.
The Business Services Partners Fund II will target lower middle market companies across IT services, professional services and software systems.
The Shore Search Partners Fund provides a new approach for the company. Led by Partner Michael Aubrey and a team of principals, the fund will assist executives seeking microcap acquisition opportunities, with the possibility of successful companies becoming Shore microcap fund investors.
“Our commitment to value creation through outsized operational support has always been core to our strategy, and it will continue to be as we extend our investment range across the lower-middle market,” said Justin Ishbia, Shore founder and managing partner.
Chicago-based Shore, founded in 2009, invests in firms with earnings before interest, taxes, depreciation, and amortization ranging from $1 million to $10 million, according to its website. The diverse investor base for these funds includes university endowments, financial institutions, pension funds and family offices, among others. Shore Capital Partners’ partners have also committed their own capital to the funds.
This isn’t the first time Shore Capital has closed three funds in one round. In July 2021, the firm closed the Shore Capital Healthcare Partners Fund IV at $366 million, the Shore Capital Business Services Partners Fund I at $213 million, and the Shore Capital Real Estate Partners Fund I at $107 million.