Palladium Equity Partners Closes $450M Continuation Vehicle

Private equity firm Palladium Equity Partners closed a $450 million multi-asset continuation vehicle that has acquired interests in three assets – Sky Zone, Del Real Foods, and Jordan’s Skinny Mixes – from its fourth fund, which closed on $1.14 billion in 2014.

BlackRock’s secondaries and liquidity solutions team acted as the lead investor in the transaction.

Sky Zone owns, operates and franchises more than 240 indoor entertainment parks across the US and Canada, Del Real Foods specializes in heat-and-serve Hispanic food, and Jordan’s Skinny Mixes provides low-calorie coffee syrups and flavorings.

“We are proud of the success Sky Zone, Del Real Foods and Jordan’s Skinny Mixes have achieved to date and believe this continuation vehicle provides further opportunity to participate in the appreciation of the value of these strong, growing companies,” said Justin Green, partner and co-head of Flagship Funds at Palladium.

Palladium had previously fully realized six companies from Fund IV.

Raymond James acted as financial advisor for the deal, while Proskauer served as legal advisor on the formation of the continuation vehicle.