Percheron Capital has closed its debut fund at $770 million. The fund’s limited partners include university endowments, charitable foundations, pension funds, financial institutions, family offices and fund-of-funds. Based in San Francisco, the private equity firm focuses on essential services businesses.
SAN FRANCISCO, Sept. 16, 2021 /PRNewswire/ — Percheron Capital (“Percheron” or the “Firm”), a private equity firm with a focus on partnering with high-quality essential services businesses, today announced the successful close of its inaugural fund, Percheron Capital Fund I LP (the “Fund”), with total committed capital of $770 million. Raised in only eight months, the Fund was significantly oversubscribed and hit its hard cap, with commitments from a diverse group of investors, including university endowments, charitable foundations, pension funds, financial institutions, family offices and fund-of-funds.
Headquartered in San Francisco, Percheron is focused on partnering with exceptional teams to build market-leading services businesses in North America. The Firm was co-founded by Chris Collins and Chris Lawler, who have worked closely together for more than a decade. They have assembled a team of seasoned investment and operating professionals with deep expertise helping strong businesses accelerate growth. Percheron targets investment opportunities in services businesses across the animal health, automotive, education, food & beverage, healthcare & wellness, and residential end markets.
“We are thrilled with the tremendous support we received from a global group of leading investors,” said Mr. Collins. “This fundraise is an endorsement of our differentiated, operationally-oriented investment strategy and our partnership approach. With a portfolio of high-quality businesses and a robust investment pipeline of attractive opportunities, we are excited about the future with our limited partners.”
“For more than a decade Chris and I have been partnering with talented founders and management teams to build market-leading businesses, and at Percheron we have brought together an outstanding team that shares our vision,” said Mr. Lawler. “We are thankful for the support of our investors and look forward to generating long-term value for them and the businesses we partner with.”
To date, the Fund has completed platform investments in Big Brand Tire & Service, the premier one-stop tire and automotive service provider on the West Coast, and Garden State Veterinary Specialists, a leading specialty and emergency veterinary services business.
Kirkland & Ellis LLP served as legal counsel for the Fund.
About Percheron Capital
Percheron Capital is a private equity firm focused on partnering with exceptional teams to build market-leading services businesses in North America. The firm’s purpose is to help high-quality businesses accelerate growth and enhance long-term value. Percheron focuses on investing in strong services businesses in resilient end markets, including animal health, automotive, education, food & beverage, healthcare & wellness, and residential. For more information, please visit www.percheroncapital.com.