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Alternative Assets  + VC  |  September 25, 2023
SkyKnight Soars to $1B Close with Fourth Fund
Joe Palmisano
By: Joe Palmisano

SkyKnight Soars to $1B Close with Fourth Fund

Buyout firm SkyKnight Capital held the final closing of its fourth fund, SkyKnight Capital Fund IV, with $1 billion in capital commitments from endowments, foundations, pensions, family offices and institutional investors.

The latest fund from the San Francisco-based firm is significantly larger than the $600 million it raised for the hard cap close of Fund III in 2021 and quadruple the size of its $250 million sophomore fund that closed in 2019.

“Fund IV will aim to invest in approximately 10 platform companies where SkyKnight can bring our collaborative, entrepreneurial approach to building industry-defining businesses alongside aligned management and owners,” said managing partner Matthew Ebbel.

The firm focuses on partnering with businesses in “acyclical growth sectors.” The firm manages over $3.5 billion and is 100% employee owned. Since its launch in 2015, the firm has made 16 platform investments, which have further made more than 100 add-on acquisitions.

SkyKnight has made investments ranging from $50 million to $250 million in healthcare, financial services and tech-enabled services companies in North America.

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SkyKnight Capital

About Joe Palmisano

Joe Palmisano is editorial director of Connect Money, where he oversees daily coverage of alternative assets, direct investments, financial advisory and the economy. He brings three decades of experience as a financial journalist, analyst and portfolio manager. Before joining Connect Money, Palmisano wrote for The Wall Street Journal, covering foreign exchange, global fixed-income and equity markets. He later served as a senior research analyst and portfolio manager, producing market analysis and managing foreign exchange and U.S. equity portfolios for FX Concepts. His work has also appeared in SFO Magazine and CMT Association publications. Palmisano earned a bachelor’s degree in finance from The American University and holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.
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