Pacific Avenue Capital Partners, a global private equity firm specializing in corporate carve-outs and complex middle market transactions, has closed its second fund, Pacific Avenue Fund II, with over $1.65 billion in committed capital. The total includes a €100+ million European sidecar vehicle to be invested alongside Fund II in regional opportunities. Both vehicles closed in a single round within four months, were significantly oversubscribed, and attracted strong interest from new and returning investors.
Founder and Managing Partner Chris Sznewajs expressed gratitude for the backing, calling the fundraising success a strong validation of Pacific Avenue’s strategy. The firm aims to be the leading global partner for carve-outs and other complex deals, focusing on sustainable growth and operational transformation. Headquartered in Los Angeles with an office in Paris, Pacific Avenue targets high-quality, mission-critical industries, acquiring businesses facing operational or strategic challenges.
Sznewajs credited the efficient raise to the strength of the team, disciplined execution, and close collaboration with sellers and management teams. Fund II’s investor base spans public pensions, consultants, endowments, foundations, insurance companies, funds of funds, and family offices. The firm’s first fund closed in April 2023 with commitments exceeding $500 million. Lazard acted as exclusive placement advisor, and Weil, Gotshal & Manges LLP served as legal counsel.
Source: businesswire
