Private equity firm Black Bay Partners has successfully closed its third fund, Black Bay III, with capital commitments reaching the hard cap of $425 million. The firm focuses on strategic investments in the energy, chemical, and industrial sectors. The launch of this fund marks a significant milestone, occurring on the tenth anniversary of the firm’s establishment. Michael LeBourgeois, managing partner of Black Bay Partners, expressed gratitude for the strong support received from both existing and new institutional investors.
Lazard Frères & Co. LLC served as the exclusive placement advisor, while legal counsel for Black Bay III was provided by Latham & Watkins LLP, led by partner Edward D. Nelson. The leadership team, including Tom Ambrose, Guy Cook, John Lancaster, and Matt Schovee, noted the promising market opportunities in the energy and industrial ecosystems and emphasized their commitment to partnering with portfolio company leadership to foster growth and enhance capabilities.
Founded in 2016, Black Bay Partners has raised over $850 million across three institutional funds and made 16 platform investments, including one from the latest fund.
Why this story matters
- Highlights the growing interest in private equity investments within critical industrial sectors.
Key takeaway
- Black Bay Partners has reinforced its position in the market with significant capital commitments, indicating confidence from investors.
Opposing viewpoint
- Some analysts caution about potential market volatility that may impact future investments in the energy and industrial sectors.
