Paceline gathers $350m for inaugural opportunity fund

Paceline Equity Partners has closed its debut opportunity fund at $350 million.

Paceline Equity Partners has closed its debut opportunity fund at $350 million. The fund’s limited partners include sovereign wealth funds, public pension funds, university endowments, family offices and funds of funds. PJT Park Hill was the placement agent while Winston & Strawn provided legal counsel. The Dallas-based private equity firm seeks to invest in the business and consumer products and services and financial services sector.

PRESS RELEASE

DALLAS – June 3, 2021 – Paceline Equity Partners, LLC (“Paceline”), a Dallas-based private equity manager, today announced the final closing of commitments to Paceline Equity Partners Opportunity Fund I, L.P. and Paceline Equity Partners Opportunity Fund I (Cayman), L.P. (collectively, “Fund I”). The commitments of investors to Fund I total $350,000,000. In addition, Paceline has raised and currently manages $64,000,000 of third-party equity capital to invest alongside deployments from Fund I. Paceline has also raised a committed co-investment partnership with another investor, and, in aggregate, Paceline has raised $449,000,000 of equity capital to date.

Chief Executive Officer Sam Loughlin said, “It is the trust and confidence of our investor base that allows Paceline to navigate this highly complex investment environment with conviction and agility. We are grateful for the opportunity to source and manage investments on behalf of our limited partners, and I firmly believe that our team’s collective experience has enabled us to do so in a way that differentiates us from other managers.”

Paceline remains dedicated to value-oriented, opportunistic, and special situations investments across corporate credit, real assets, and private equity in all market environments. The seven founding partners of the firm have an average of 23 years of experience, worked together as a team for 13 years, and are supported by 12 investment professionals with diverse skillsets across asset classes and industries.

“The cohesive system of sourcing, underwriting and asset management that we have built at Paceline allows us to maintain a competitive advantage in our opportunity set,” said Chief Investment Officer Leigh Sansone. “We are grateful to our investor base and are highly motivated to continue our work in delivering excellent results on their behalf.”

Paceline has built a diversified portfolio of current investments to date through five acquisitions totaling approximately $300 million of transaction value. These investments include RELAM, Inc. and 1435 Rail, Inc., leading lessors of rail maintenance of way equipment and track maintenance services, Quick Fitting Holding Company, LLC, a manufacturer and supplier of connection and fitting devices, a Sheraton Hotel located in the Boston suburban area of Needham, Massachusetts, and a retail cooperative space in Manhattan’s SoHo neighborhood.
Commitments were secured from a diversified group of institutional investors from North America, Europe, and the Middle East. Among these institutions are leading sovereign wealth funds, public pension funds, university endowments, family offices and funds of funds.

Fund I was represented by the law firm of Winston & Strawn, and PJT Park Hill served as exclusive placement agent.

To learn more, please visit www.pacelineequity.com.