Chicago-based Shore Capital Partners, has closed its first fund – Shore Capital Partners Fund I – on its $112.5 million hard-cap and was oversubscribed.
This is the debut fund for Shore Capital, which has previously completed five platform investments amounting to fourteen deals in aggregate, through a series of committed capital funds. The prior five investment vehicles totaled approximately $50 million in committed capital, and were comprised of a few institutional investors, family offices, and high net worth individuals according to sources familiar with the fund.
Fund I will focus on healthcare companies, relying on a similar strategy used by the firm in its platform investments. Investments will comprise control buyouts centered on microcap healthcare businesses with $1 to $5 million in EBITDA. Shore targets equity commitments of $10 – $15 million per platform.
Investors in Fund I include leading pension funds, financial institutions, fund of funds and family offices.
Shore Principals include Justin Ishbia who worked at Valor Equity Partners and previously was an attorney in the private equity group at Kirkland Ellis; Ryan Kelley, who worked as an investment professional at Water Street Healthcare Partners, and Michael Cooper who was an investment professional at Wind Point Partners.