Paceline Equity Partners LLC, a Dallas-based private equity manager, has closed commitments to Paceline Equity Partners Opportunity Fund I LP and Paceline Equity Partners Opportunity Fund I (Cayman) LP. The commitments of investors to Fund I total $350 million.
CEO 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.”
“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., 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 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.