Private equity firm, Black Bay Partners, has announced the final closing of its third fund Black Bay III, at the hard cap of $425 million in capital commitments.
Black Bay specializes in strategic investments within the energy, chemical and industrial sectors. The fund received “strong support” from its existing limited partners, as well as new institutional investors, the private equity firm said in a press release.
“Reaching our hard cap of $425 million on the 10-year anniversary of the firm is an exciting milestone, and we are deeply grateful for the confidence and support from our existing and new investors,” said Michael LeBourgeois, managing partner of Black Bay Partners.
Lazard Frères & Co. LLC acted as the exclusive placement advisor, and Latham & Watkins LLP, led by partner Edward D. Nelson, served as legal counsel for Black Bay III.
Black Bay Partners Tom Ambrose, Guy Cook, John Lancaster and Matt Schovee commented: “We are extremely excited about the market opportunity ahead of us in the energy and industrial ecosystem. We see a robust pipeline of attractive investments for Fund III and look forward to partnering with portfolio company leadership teams to accelerate growth, enhance capabilities, and build durable, high-performing businesses.”
Black Bay Partners was founded in 2016 and has raised more than $850 in cumulative capital commitments across three institutional funds. The firm has made 16 platform investments, including one in Fund III.
Image: Shutterstock
Recent Comments