Pacific Avenue Capital Partners, LLC (“Pacific Avenue”), a private equity firm specializing in corporate divestitures in the middle market, announced the final closing of its first fund, Pacific Avenue Fund I, L.P. (the “Fund”). The Fund was significantly oversubscribed at its hard cap, with aggregate commitments of over $500 million. The Fund includes commitments from a diverse group of global investors including insurance companies, consultants, endowments and foundations, funds of funds, family offices and individuals.
Since inception, Pacific Avenue Capital Partners has focused on corporate divestitures and other complex situations in the middle market. Pacific Avenue’s significant M&A and operations experience allows the firm to navigate complex transactions.
“We would like to thank our investors for their excitement in supporting the Pacific Avenue team. We are both honored and grateful for their support. The Fund will allow Pacific Avenue to continue our emphasis on corporate divestitures and other complex situations to create value for our stakeholders.”Chris Sznewajs, Founder and Managing Partner of Pacific Avenue
To date, the Fund has completed one platform investment, Sunrich Products, and has executed an agreement to acquire its second platform, Resin Solutions. Resin Solutions is expected to close in the second or third quarter of 2023.
Lazard Frères & Co. LLC served as the exclusive placement advisor to the Fund. Weil, Gotshal & Manges LLP served as legal counsel to the Fund.
About Pacific Avenue Capital Partners
Pacific Avenue Capital Partners is a Los Angeles-based private equity firm focused on corporate divestitures and other complex situations in the middle market. Pacific Avenue has extensive M&A and operations experience allowing the firm to navigate complex transactions and unlock value through operational improvement, capital investment, and accelerated growth. The members of the Pacific Avenue team have closed more than 105 transactions, including over 45 corporate divestitures, across a multitude of industries throughout their combined careers. Pacific Avenue takes a collaborative approach in partnering with strong management teams to drive lasting and strategic change while assisting businesses in reaching their full potential. For more information, please visit www.pacificavenuecapital.com.