South Carolina-based Bowside Capital has closed its third fund on $37.25 million. Bowside beat its $35 million target for the vehicle.
The fund was in market for under a year.
The firm focuses on the North American small-cap market including investments in private equity funds with capital commitments of $150 million or less, buyouts, and secondary purchases of limited partner interests in funds that meet its target criteria and co-invests with these funds and independent sponsors in direct transactions.
Bowside’s second fund closed on just over $17 million in 2012, running the same strategy, according to Private Equity International’s research and analytics division.
Bowside has already completed five investments from Fund III including stakes in three funds and two companies. Investors in the Bowside funds include endowments, family offices and high-net-worth individuals.