Osceola Capital has held a hard cap and above target close of its inaugural fund with an oversubscribed $125 million of capital.
Limited partners in the new fund include public pension plans, financial institutions, a university endowment, family offices, and several high net worth investors.
“We want to thank our investors for their tremendous support,” said Michael Babb, a managing partner of Osceola. “It is exciting to partner with a top tier collection of institutions, family offices, and individual investors and we look forward to continuing to execute our strategy on their behalf.”
Osceola makes control investments of up to $20 million in companies that have revenues of $5 million to $50 million and EBITDA of $2 million to $10 million. Sectors of interest include business services, healthcare services, tech-enabled services, and industrial services.
To date, Osceola has invested $40 million of Fund I’s capital in six companies: Central Medical Supply, a New Jersey-based provider of outsourced equipment management services to hospices (May 2020); Healthcents, a Texas-based provider of outsourced services – payer contracting, credentialing, revenue cycle management, and consulting services – to healthcare providers (December 2019); Top Gun, a Colorado-based provider of pressure washing and exterior facilities services to commercial businesses and local governments (August 2019); 360 Quote, a Florida-based provider of lead generation services to the finance and insurance industries (November 2018); Talent Group, a Florida-based provider of outsourced IT staffing services (July 2018); and AVision Sales, a Pennsylvania-based provider of outsourced sales and marketing services to janitorial, sanitation, and disposable manufacturers (June 2017).
“The Fund I portfolio is very well positioned for the current macro environment and we believe that staying true to our strategy of paying appropriate multiples, utilizing light leverage, and carefully selecting industries with recession resilient qualities will reward Osceola’s investors,” added Will Newbrander, a director at Osceola.
“We are very enthusiastic about the existing portfolio and are pleased that the successful fundraise enables us to continue actively pursuing opportunistic investments and working collaboratively with management teams to create value for each stakeholder,” said Ben Moe, a managing partner of Osceola.
DLA Piper provided legal services to Osceola on this fundraise.
Osceola Capital was founded in 2014 and is headquartered in Tampa.
Contacts in this article:
Write to Michael Babb at mbabb@osceola.com; Ben Moe at bmoe@osceola.com; and Will Newbrander at wnewbrander@osceola.com
Private Equity Professional | June 18, 2020
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