OceanSound Partners has closed its inaugural fund at $780 million, beating its $550 million. OceanSound Partners Fund’s limited partners include pension plans, endowments and foundations, family offices, institutional consultants, asset management firms and insurance companies. Sixpoint Partners was placement agent for the fund while Paul, Weiss, Rifkind, Wharton & Garrison LLP served as legal counsel. Based in New York, the private equity firm invests in technology and technology-enabled services companies serving government and enterprise end markets.
NEW YORK – DATE, 2022 – OceanSound Partners (“OceanSound”), a growth-oriented private equity firm that invests in technology and technology-enabled services companies serving government and enterprise end markets, today announced the final close of its inaugural fund, OceanSound Partners Fund, LP (the “Fund”), with $780 million in total capital commitments. The Fund closed substantially above its target of $550 million. OceanSound received support from a diverse group of well-regarded limited partners, including leading pension plans, endowments and foundations, family offices, institutional consultants, asset management firms and insurance companies.
Based in New York, OceanSound focuses on investments in middle-market companies where its expertise at the intersection of government and enterprise end markets can drive strong growth and outperformance. The team takes an engineering-like approach to value creation based on a structured build, improve and grow process grounded in sound strategic initiatives and operational best practices to achieve accelerated revenue growth and margin enhancement. The firm typically invests $75 to $300 million through controlling-ownership positions in companies with enterprise values of $150 to $750 million. OceanSound currently manages in excess of $1.15 billion in Regulatory Assets Under Management and has already invested in five platform investments which, in turn, have completed nine add-on acquisitions.
“The closing of our first fund marks a tremendous milestone for OceanSound and validates our differentiated investment strategy together with our team’s capabilities,” stated Joe Benavides, Managing Partner of OceanSound. “We started the firm shortly before the COVID-19 pandemic and could not be more pleased with all we have accomplished. We are extremely grateful for the support of our investors, who include some of the most respected institutional private equity investors. Their support underscores our ability to identify attractive investment opportunities where we have proprietary perspectives and can bring significant resources to build businesses that outperform their peers.”
The firm is led by Benavides together with experienced partners Ted Coons, Jeff Kelly and Ariel Garcia and supported by a team of 15 Executive Partners, investment professionals, and operations staff.
Sixpoint Partners acted as the exclusive placement agent, and Paul, Weiss, Rifkind, Wharton & Garrison LLP served as legal counsel for OceanSound.
About OceanSound Partners
OceanSound Partners is a New York-based private equity firm that pursues control investments in technology and technology-enabled services companies serving government and enterprise end markets. OceanSound employs a partnership approach, working closely with founders, entrepreneurs, and executives of middle market businesses to drive transformational growth. For more information, please visit www.oceansoundpartners.com