Osceola Capital Management, a private equity firm in Tampa, has raised $125 million for its Osceola Fund I.
There was heavy investor demand. The fund was oversubscribed and surpassed its original target of $100 million, a news release said.
Investors included global public pension plans, financial institutions, a university endowment, family offices and several high net worth investors.
“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,” Michael Babb, managing partner, said in the news release.
Osceola already has begun putting the new capital to work, making investments of about $40 million across several sectors. The most recent deals include recapitalizing a New Jersey medical provider and buying a Texas healthcare consulting company. The portfolio is “well positioned for the current macro environment,” said Will Newbrander, a director at Osceola.
“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,” Newbrander said.
The new funds allow Osceola to continue actively pursuing opportunistic investments, said Ben Moe, managing partner.
DLA Piper served as legal counsel for the Osceola Fund I fundraiser.
Osceola invests in lower middle-market services companies with initial platform investments typically ranging from $2 million to $10 million of earnings before taxes, interest, depreciation and amortization.