Ambit Partners closes $26m fund to invest in search funds globally
Ambit Partners announced the closing of its inaugural fund, Ambit Partners Fund I, a global fund of search funds, having achieved $26 million in committed capital. Fund I held its first closing in September 2021, and has now exceeded its targeted $25 million fund size.
The fund is anchored by Pags Group, the family office of Bain Capital co-founder and co-chairman, Steve Pagliuca; and complemented by other experienced investors like Jordan Park Group, emerging market experts like CrossBoundary and Ethos Private Equity founder André Roux, and veteran search fund operators like Karen Moriarty. Fund I will invest in about 40-60 search funds, with the aim of building a globally diversified portfolio of around 20-30 searcher-acquired and operated businesses, emphasising opportunities in new or emerging search fund markets.
To date, Fund I is 33% deployed in 35 search funds across 21 markets, and participating in seven acquisitions. Combining global experience and networks with deep transacting and operating experience, Ambit Partners focuses on participating in traditional search fund acquisitions that feature sustainable high growth, recurring and predictable revenue, and high capital efficiency.
Ambit Partners co-founder and managing partner, Rob LeBlanc said, “We are thrilled to wrap up our active fundraising so quickly given the current macro environment. We are proud of the investor group we have put together, a group that not only shares our vision and values, but that also spans the globe, giving us and our search fund principals unique support in the markets we invest in.”
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