Shore Capital Companions, a Chicago-based non-public fairness agency based by billionaire Justin Ishbia, has raised greater than $400 million for its second industrial fund.
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The closing extends a string of profitable fundraising for the agency, following a dry spell for the non-public fairness business extra broadly, pushed by larger rates of interest and macroeconomic uncertainty. Shore introduced in additional than $1 billion in new capital final 12 months.Â
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The Industrials Fund II will spend money on areas together with infrastructure-adjacent providers and specialised upkeep and restore markets together with residential overhead doorways, utility providers and aviation upkeep, the corporate stated in an announcement. Shore’s first infrastructure fund backed companies comparable to industrial HVAC and plumbing in addition to residential roofing.Â
“Industrials continues to be a pure extension of the Shore playbook,” Ishbia stated within the assertion. “We’re seeing sustained tailwinds throughout sub-categories, and this fund permits us to be an much more intentional, long-term associate to founders and administration groups.”
Shore Capital is a center market investor with over $17 billion in belongings below administration. The agency’s inaugural industrial fund raised $207 million in 2023. The non-public fairness agency invests in a number of sectors together with meals and beverage, actual property and well being care.Â
The brand new industrials fund can be led by Ishbia and Shore’s John Sznewajs and Dan Spradling. The vast majority of the capital commitments got here from current restricted companions of Shore, which was based in 2009 and has 322 firms in its portfolio, in response to PitchBook knowledge.Â
Ishbia, a member of the Michigan household behind
