Periscope Equity Announces Close of $370 Million Oversubscribed Third Fund

CHICAGO--(BUSINESS WIRE)--Periscope Equity, a Chicago-based private equity firm, today announced the closing of Periscope Equity III, L.P. (“Fund III”). Fund III closed with aggregate commitments of $370 million, exceeding its target of $300 million in under 12 months from official launch. Fund III’s investor base comprises both new and returning limited partners, featuring a diverse mix of leading university endowments, pension funds, charitable foundations, consultants, funds-of-funds and family offices.

“The oversubscribed and efficient closing of Fund III amid a difficult fundraising environment is a testament to Periscope’s strategy and consistent focus on first-institutional capital opportunities in founder-led services businesses,” said Periscope Partner Steve Jarmel. “Our disciplined approach — combined with a commitment to rolling up our sleeves alongside management teams — has enabled us to realize meaningful returns amid broader market headwinds.”

Periscope has experienced significant momentum since raising its first institutional fund in 2018, demonstrating an ability to generate returns and deploy capital over the past seven years while remaining disciplined in its investment strategy. Since 2018, Periscope has raised approximately $700 million in committed capital across its three funds, invested in 11 platform companies and completed 28 add-on acquisitions.

“We’re excited about the opportunities ahead as we continue to invest in the next generation of services businesses,” said Periscope Partner John Findlay. “Our mission has been the same since day one — to back founder-owned, tech-enabled services businesses and partner with them on needle-moving strategic growth initiatives and operational excellence.”

Kirkland & Ellis LLP acted as legal counsel and M2O Private Fund Advisors served as the placement agent.

About Periscope Equity

Periscope Equity is a Chicago-based private equity firm that partners with founder-owned, technology-enabled business services companies. Since its founding in 2012, Periscope has a track record of investing in businesses with mission-critical service offerings, a history of sustainable profitability and known avenues to accelerate growth. In alignment with management teams, Periscope seeks to provide operational and commercial support to drive investment returns. Learn more at periscopeequity.com.