Former Blackstone Colleagues Isaac Harrouche and Mike Berlin Partner with David Blitzer and Announce Final Close of $400 Million Debut Fund

Backed by Bolt Ventures and Strategic Family Offices, 154 Partners Closes Fund I at Hard Cap to Pursue Acquisitions of Founder- and Family-Built Businesses

NEW YORK--(BUSINESS WIRE)--154 Partners (“154” or the “Firm”), a private equity firm focused on partnering with founders and owner-operators, announced the final closing of 154 Partners Fund I LP (together with its parallel vehicle, the “Fund” or “Fund I”) at its $400 million hard cap. Isaac Harrouche and Mike Berlin launched the Firm in January 2025. The Firm primarily invests in residential, business, and sports & live event services.

Since its debut last year, 154 has invested in an accounting services consolidation platform and in a sports & live event-focused guest services platform.

Harrouche and Berlin began their careers together at Blackstone in its Tactical Opportunities group, working with David Blitzer. Together, they have extensive experience structuring transactions and evaluating opportunities across industries. Blitzer joins Harrouche and Berlin as the third member of the Firm’s Investment Committee.

“Our investors share our conviction in the lower-middle market and believe in our partnership-driven approach to structuring transactions that meets the needs of founders and owner-operators,” said Harrouche, Co-Founder and CEO of 154 Partners. “We are proud of the team we have built over the past 15 months and confident in our thematic approach to identifying compelling investment opportunities.”

“Our goal is to balance value creation with capital preservation, helping businesses grow sustainably while honoring what founders have already built,” said Berlin, Co-Founder and CIO. “We believe the best investments are made when you collaborate with your investor community and portfolio companies.”

Blitzer added: “I am thrilled to partner with Isaac and Mike again. I had the privilege of hiring them both at Tac Opps, and Isaac was instrumental in helping me launch and scale Bolt Ventures since 2018. We believe that some of the most compelling opportunities exist at the smaller end of the market, especially in the sports and live events sector, where our relationships give us a differentiated ability to find these businesses and bring in the right resources to help drive meaningful growth.”

154 Partners targets profitable private companies generating $2 million to $20 million of EBITDA and pursues control and shared-control investments across its core sectors. 154 expects to deploy $40 million to $100 million of equity per platform investment over its holding period. The Firm’s investment sourcing combines senior industry relationships with a dedicated in-house origination function. Pre- and post-acquisition, 154’s portfolio operations team works closely with management to strengthen core processes, build scalable teams and systems, drive organic growth, and execute accretive acquisitions.

Morgan, Lewis & Bockius LLP served as legal counsel for the Fund. 154 Partners did not engage a placement agent.

About 154 Partners
154 Partners is a New York-based private equity firm focused on partnering with founder- and family-led businesses in the lower-middle market. Founded in 2025 by former Blackstone colleagues Isaac Harrouche and Mike Berlin, the Firm targets control and shared-control investments in North American companies with strong cash flow and growth potential through operational improvements and strategic M&A.

With a close-knit team of professionals across investment, deal origination, strategy, and operations, 154 Partners provides management teams the support to accelerate growth through access to capital and operational resources. The Fund’s investors and advisors include business founders and operators who bring decades of experience to the Fund and its investment strategy.

For more information, please visit www.154partners.com.