Key Takeaways
- • Seaside Equity Partners closed two new funds, Seaside Equity Partners III, L.P. (Fund III) and Seaside Navigator I, L.P. (Navigator I), with total commitments of over $720 million.
- • Fund III secured $568 million in limited partner commitments and Navigator I secured $155 million; both were oversubscribed and closed in a single closing.
- • Fund III will target companies generating $3 million to $15 million in EBITDA, while Navigator I marks a strategic expansion into businesses generating less than $3 million in EBITDA.
- • With the new capital, Seaside manages approximately $1.4 billion in assets and has invested in more than 55 companies.
Summary
Seaside Equity Partners, a San Diego-based private equity firm focused on the lower middle market, announced the successful closings of two new funds with total commitments exceeding $720 million, according to a Business Wire release dated July 8, 2025. The funds are Seaside Equity Partners III, L.P. (Fund III) and Seaside Navigator I, L.P. (Navigator I).
Fund III raised $568 million in limited partner commitments and Navigator I raised $155 million. Both funds were oversubscribed and substantially completed in a single closing. The firm said it drew support from a diverse investor base including endowments, foundations, corporate and public pensions, insurance companies, consultants, and family offices.
Both vehicles will target mission-critical service providers headquartered in the Western United States. Fund III will continue the firm's existing focus on companies generating $3 million to $15 million in EBITDA. Navigator I represents a strategic expansion into businesses generating less than $3 million in EBITDA, a segment Seaside views as offering significant potential for value creation.
Managing Partner Andrew Thompson said the firm was grateful to its investors, companies, and colleagues, and described Fund III and Navigator I as a significant step forward that allows the firm to expand upon its existing strategy. With the new capital, Seaside now manages approximately $1.4 billion and has invested in over 55 companies. Shannon Advisors served as placement agent and Kirkland & Ellis LLP provided legal counsel for the fundraise.
Fund III raised $568 million in limited partner commitments and Navigator I raised $155 million. Both funds were oversubscribed and substantially completed in a single closing. The firm said it drew support from a diverse investor base including endowments, foundations, corporate and public pensions, insurance companies, consultants, and family offices.
Both vehicles will target mission-critical service providers headquartered in the Western United States. Fund III will continue the firm's existing focus on companies generating $3 million to $15 million in EBITDA. Navigator I represents a strategic expansion into businesses generating less than $3 million in EBITDA, a segment Seaside views as offering significant potential for value creation.
Managing Partner Andrew Thompson said the firm was grateful to its investors, companies, and colleagues, and described Fund III and Navigator I as a significant step forward that allows the firm to expand upon its existing strategy. With the new capital, Seaside now manages approximately $1.4 billion and has invested in over 55 companies. Shannon Advisors served as placement agent and Kirkland & Ellis LLP provided legal counsel for the fundraise.
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