Periscope Equity Closes Oversubscribed Fund II With $225 Million of Capital CommitmentsDecember 15, 2020
Chicago – December 15, 2020. Periscope Equity (“Periscope”), announced the final closing of its second institutional fund, Periscope Equity II, L.P. (“Fund II” or the “Fund”) with $225 million of capital commitments. The Fund exceeded its target and was oversubscribed with the backing of an experienced group of limited partners, including university endowments, pension funds, charitable foundations, funds-of-funds and family offices. Periscope completed the fundraise of its inaugural fund in 2018 with $104 million of capital commitments.
“The durability and growth of our existing portfolio during the pandemic demonstrates the benefits of our consistent investment strategy, as we have never wavered from targeting companies with mission-critical offerings, a history of sustainable profitability, and a stable base of recurring revenue,” said Steve Jarmel, Founder and Partner.
“With Fund I nearly deployed in less than three years, we are thrilled to continue on our growth path and to execute our strategy of partnering with innovative, entrepreneurial companies on a larger scale,” said John Findlay, Partner.
Fund II will continue to execute on Periscope’s investment strategy of control buyouts of founder-owned technology-enabled services and software companies across digital marketing, business process automation, security solutions, and healthcare technology. Since inception, Periscope has completed seven platform investments, three of which have been successfully exited, and 17 add-on acquisitions.
M20 Private Fund Advisors acted as placement agent and Kirkland & Ellis LLP acted as legal counsel to Periscope for Fund II.