Shoreline Equity Partners Fund, L.P. was oversubscribed beyond its initial target.

Private equity firm Shoreline Equity Partners, LLC began raising funds for its maiden buyout fund in March. It announced Tuesday the final closure of the fund at its hard cap of $300 million.  The fund had set an initial target of $250 million.

Shoreline Equity Partners

Shoreline Equity Partners describes itself as a lower middle-market private equity firm focused on actively partnering with leading management teams.

Further, its goal is to implement collaborative solutions with portfolio company executives to drive growth and optimize operations.

Portfolio approach

Shoreline Equity Partners has a special focus on cultivating relationships and partnerships in the  Southeastern United States.

Moreover, it is looking for equity investment opportunities of up to $100 million per transaction in support of buyouts, recapitalizations, and corporate divestitures. Its priorities are specialized manufacturing, value-added distribution, and business and industrial services sectors, among others.

Furthermore, targeted businesses have enterprise values ranging from $25 million to $250 million. EBITDA should range between $5 million to $25 million. Additionally, they should ideally be “non-capital-intensive.”

Investor base of the new fund

Investors committing to the new fund were from a prominent group of limited partners including insurance companies, fund of funds, family offices and high net worth individuals.

Furthermore, Shoreline’s general partners and its executive network also contributed significant capital to the fund.

“We are very grateful to all of our limited partners for the resounding support and humbled by the overwhelming demand shown through the process,” said Shoreline Co-Founder Mike Hand.  “The entire Shoreline team is excited to work closely with our portfolio company management teams and to continue backing and building leading lower middle-market businesses.  Our emphasis on doing well by our investors, our management partners and the communities within which our portfolio companies operate has been exceptionally well-received.”

Shoreline Co-Founder Peter Franz said the fund had sought to assemble a diverse investor base.

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