Halifax closes Fund III on $393m

The Halifax Group, which first organised the fund in 2010, beat its fundraising target by $43m in its final close of Halifax Capital Partners III.

Halifax Group has closed its third fund on $393 million, beating its $350 million target, the firm announced Monday. 

The firm organised Halifax Capital Partners III in 2010, according to US Securities and Exchange Commission filings. The fund’s limited partner base includes public and private pension funds, endowments, foundations, funds of funds and family offices, the firm said in a statement. 

Sixteen of the firm's existing investors committed to fund, which also received commitments from 19 new LPs.  

Halifax focuses on partnering with management to acquire companies in the business and government services, franchising, health and wellness and infrastructure sectors in the US and Canada, according to the firm’s website.

The firm typically commits between $10 million and $50 million in equity per deal through a variety of investment strategies, including growth equity, recapitalisations, buyouts, corporate divestitures and go-private transactions. 

XT Capital Partners worked as a placement agent on the fund. 

Earlier this week, Halifax completed its first investment in the fund when it acquired Interim HealthCare from Sentinel Capital Partners, according to the statement. Terms of the deal were not disclosed. 

The firm’s previous vehicle closed on $305 million in 2006. 

Halifax was founded in 1999 by David Dupree and William Rogers alongside TPG founder David Bonderman and Colony Capital chairman Thomas Barrack. With the latest closing, the firm now manages more than $1 billion in committed capital under management. 

Halifax maintains offices in Washington, DC, Dallas and Raleigh, North Carolina.