Southfield Capital, LLC, a Greenwich, CT based private equity firm focused on control investments in growth-oriented lower middle market business services companies, raised $303 million for its third institutional fund, Southfield Capital III L.P. Fund III exceeded its hard cap and was oversubscribed with strong support from an experienced group of institutional limited partners, including public pensions, insurance companies, endowments, fund-of-fund managers, and family offices.
Fund III will seek to partner and invest in entrepreneur-built business services companies in the lower middle market where there is a clear path to increase EBITDA more than 3x organically and through acquisitions. Southfield seeks to work collaboratively with management teams to grow their businesses, which has been demonstrated by their deep experience and track record in creating value for their limited partners and management teams.
“We’re so pleased to see such a high level of participation from our existing LP relationships investing again in Southfield’s Fund III, many of whom meaningfully upsized from their Fund II commitments,” said Southfield’s Managing Partner, Andy Levison. “We also added several new relationships with industry-leading institutional investors, further validating our mission to invest in exceptional lower middle market businesses and generate outstanding returns for our LPs.”
Atlantic–Pacific Capital served as Fund III’s exclusive global placement agent and advisor. Proskauer served as Fund III’s legal counsel.