Seaside Equity Partners Closes Sophomore Private Equity Fund at $325M

Seaside Equity Partners closed its second private equity investment fund, Seaside Equity Partners II, with $325 million in capital, handily surpassing its $225 million target, despite a retrenchment in private equity fundraising.

The success of Seaside Fund II follows the initial success of the firm’s debut fund, Seaside Fund I, which was raised in February 2021 and closed oversubscribed in July of that year with $160 million, surpassing its $55 million target of $120 million.

The San Diego-based firm says it employs a growth-focused and operationally oriented approach toward investing in lower-middle market companies and that Fund II will continue to focus on partnering with founder, family and entrepreneur-owned businesses with strong foundations and opportunities for outsized growth.

With the closing of Seaside Fund II, the firm has raised over $500 million and invested in 26 companies including nine platform companies and 17 add-on acquisitions.