PE Shop SkyKnight Capital Raises $2B for Fifth Fund

SkyKnight Capital, a private equity firm, has raised $2 billion in commitments in the closing round for its buyout fund, SkyKnight Capital Fund V. 

The oversubscribed fund, which closed on July 1, surpassed its targeted goal of $1.5 billion and increases SkyKnight Capital’s total assets to $6.5 billion. 

The capital will continue fueling investments across healthcare, financial services, and tech-enabled services companies in North America. 

Fund V attracted commitments equal to three times its target size in less than six months and has achieved over 100% net retention from existing limited partners, the firm said. 

“Fund V will aim to invest in approximately a dozen companies where SkyKnight can bring our collaborative, entrepreneurial approach to building industry-defining businesses alongside aligned management teams and owners,” said Matthew Ebbel, managing partner at SkyKnight Capital. 

The fund comes nearly three years after SkyKnight Capital raised $1 billion in capital for its fourth fund, SkyKnight Capital Fund IV, in 2023. 

Since the firm’s launch in 2015, Burlingame, CA-based SkyKnight Capital has made about 23 investments, with those companies making over 100 add-on acquisitions.