Shoreline Equity Partners Raises Over $450 Million For Its Second Private Equity Fund
Jacksonville, Florida – January 10, 2023 – Shoreline Equity Partners, LLC (“Shoreline” or the “Firm”), a purpose-driven lower middle market private equity firm, today announced the close of its second private equity fund, ShorelineEquity Partners Fund II, L.P. (“SEP II”). Shoreline began fundraising in October with an initial target of $400 million of limited partner commitments and received significant support from its existing investor base. With increased support from existing investors, significant commitments from the Firm’s executive network and strong interest from new investors, SEP II was oversubscribed and quickly reached its limited partner hard cap of $450 million. In addition, the professionals at Shoreline provided a meaningful incremental capital commitment to support the fund.
Since Shoreline’s launch in March 2019, the Firm has invested in seven platforms and completed over 25 add-ons. The Firm focuses on working with leading management teams of lower middle market companies with EBITDA typically ranging between $5 million and $25 million. To support the growth in SEP II, Shoreline has hired an additional four professionals to enable the team to stay focused while deploying capital across the lower end of the middle market.
“We are very grateful to all of our limited partners for their continued support as well as the hard work put in by our growing team at Shoreline,” said Mike Hand, Managing Partner. “We do not take lightly the trust our blue-chip partners have placed in us in an incredibly difficult fundraising environment. The overwhelming interest in SEP II further solidifies the value in our approach and strength of the team we have built.”
Shoreline had strong support across its diversified limited partner base comprised of insurance companies, fund of funds, pension and retirement funds, family offices and high net worth individuals. Shoreline’s general partners and its executive network also contributed significant capital to the fund.
“Since inception, Mike and I have been focused on building a diverse base of limited partners with a variety of investment experiences. We believe that the ability to leverage the collective experiences across our investor base offers tremendous value,” said Peter Franz, Partner. “We take pride in the relationships we have cultivated over many years with each of our investors who continue to support Shoreline’s investment strategy.”
M2O Private Fund Advisors LLC acted as the exclusive placement agent, and Ropes & Gray LLP provided legal counsel to Shoreline.
Shoreline is a lower middle market private equity firm focused on actively partnering with leading management teams. Shoreline follows a total stakeholder model, meaning success should be a “win-win” proposition for shareholders, employees, customers, vendors, and the communities within which the Firm’s companies operate. Shoreline professionals believe in honesty, incentive alignment, and creating bigger, better businesses without relying on financial engineering or cost cutting to generate returns. With over $750 million of committed capital under management, Shoreline seeks to lead equity investments of up to $150 million per transaction in support of buyouts, recapitalizations, and corporate divestitures. Targeted businesses have enterprise values ranging from $50 million to $350 million and EBITDA of $5 million to $25 million. The Firm strives to partner with management teams of businesses primarily within value-added distribution, business and facility services, and specialized manufacturing, among other sectors. For more information, please visit www.shorelineequitypartners.com.