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Alternative Assets  + Latest News  + Private Equity  | 
Corporate Divestiture-Focused Pacific Avenue Closes $500M+ Debut Fund

Corporate Divestiture-Focused Pacific Avenue Closes $500M+ Debut Fund

Pacific Avenue Capital Partners, a private equity firm specializing in corporate divestitures in the middle market, has raised an oversubscribed $500 million+ for a hard cap close of its debut fund – Pacific Avenue Fund I.

The Los Angeles-based firm said the new fund has completed one investment to date in Sunrich Products and has drawn up an agreement to acquire its second platform, Resin Solutions, which it expects to wrap up in the second or third quarter of this year.

“The fund will allow Pacific Avenue to continue our emphasis on corporate divestitures and other complex situations to create value for our stakeholders,” states Chris Sznewajs, managing partner and founder of Pacific Avenue Capital.

Lazard Frères & Co. LLC served as the exclusive placement advisor to the Fund. Weil, Gotshal & Manges LLP served as legal counsel to the Fund.

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Pacific Avenue Capital

About Joe Palmisano

Joe Palmisano is Editorial Director for Connect Money, where he brings nearly three decades experience of market insights as a financial journalist, analyst and senior portfolio manager for leading financial publications, advisory firms, and hedge funds. In his role as Editorial Director, Joe is responsible for the selection of content and creation of daily business news covering the financial markets, including Alternative Assets, Direct Investment and Financial Advisory services. Before joining Connect Money, Joe was a financial journalist for the Wall Street Journal, regularly publishing feature stories and trend pieces on the foreign exchange, global fixed income and equity markets. Joe parlayed his experience as a financial journalist into roles as a Senior Research Analyst and Portfolio Manager, writing daily and weekly market analysis and managing a FX and US equity portfolio. Joe was also a contributing writer for industry magazines and publications, including SFO Magazine and the CMT Association. Joe earned a B.S.B.A. in Finance from The American University. He holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.

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