Seaside Equity Partners Secures Over $720 Million for Two New Funds, Expanding Support for Lower Middle Market Businesses

SAN DIEGO--(BUSINESS WIRE)--Seaside Equity Partners (“Seaside” or the “Firm”), a private equity firm focused on the lower middle market, today announced the successful closings of two new funds, Seaside Equity Partners III, L.P. (“Fund III”) and Seaside Navigator I, L.P. (“Navigator I”), with total commitments of over $720 million. This significant capital raise enables Seaside to further its mission of partnering with exceptional companies to drive growth and value creation in the lower middle market.

Seaside secured meaningful support from a diverse group of limited partners, including endowments, foundations, corporate and public pensions, insurance companies, consultants, and family offices. Both Fund III, with $568 million of limited partner commitments, and Navigator I, with $155 million of limited partner commitments, were oversubscribed and substantially completed in a single closing.

“We are fortunate with the outcome and most grateful to our investors, companies, and colleagues for their support and trust,” said Managing Partner Andrew Thompson. “Fund III and Navigator I represent a significant step forward for our firm, allowing us to expand upon our existing strategy while continuing our pursuit of a great outcome for all.”

Building on Seaside’s investment strategy, both funds will target mission-critical service providers headquartered in the Western United States. Fund III will continue the Firm’s focus on companies generating $3 million to $15 million in EBITDA. Navigator I represents a strategic expansion with a focus on companies generating less than $3 million of EBITDA, a market segment in which Seaside sees significant potential for value creation.

With these new funds, Seaside Equity Partners now manages assets of approximately $1.4 billion and has invested in over 55 companies. The Firm’s expanded capital base enhances its opportunity to pursue partnerships with lower middle market businesses seeking growth capital, liquidity, and strategic resources in pursuit of reaching their full potential.

Shannon Advisors served as placement agent, and Kirkland & Ellis LLP provided legal counsel for the fundraise.

For additional information on Seaside Equity Partners, see www.seasideequity.com.