Coalesce Capital Closes Oversubscribed $900 Million Inaugural Fund

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Feb 07, 2024, 06:00 ET

NEW YORK, Feb. 7, 2024 /PRNewswire/ -- Coalesce Capital ("Coalesce"), a private equity firm investing in human capital-driven and technology-enabled services companies, today announced the closing of its inaugural fund, Coalesce Capital Fund I LP (the "Fund"), and parallel vehicles, with $900 million in total capital commitments. The Fund was oversubscribed and secured investor commitments in nine months, above its original target of $750 million. Coalesce now has approximately $1.0 billion in regulatory assets under management.

The Fund's globally diversified investor base is comprised of leading endowments, foundations, healthcare and pension systems, financial institutions and entrepreneurs. Coalesce has begun deploying the Fund and recently completed its first investment in Examinetics, a leading provider of occupational health compliance testing services.

"Coalesce was formed to partner with ambitious entrepreneurs leading human capital- and technology-enabled services businesses. Our goal is to accelerate the growth of these companies by applying our financial capital and collaborative value creation approach," said Stephanie Geveda, Founder and Managing Partner of Coalesce. "We are grateful for the support of our Fund I investors on this journey and are working hard to reward their trust as we identify and invest behind the category-leading platforms of tomorrow."

PJT Park Hill served as the exclusive placement agent, subject to certain exclusions; Latham & Watkins LLP served as fund formation counsel.

About Coalesce Capital

Coalesce Capital is a private equity firm that partners with entrepreneurs and management teams to build enduring value around differentiated businesses. Dedicated to investing in human capital-driven and technology-enabled services companies, the firm's growth-oriented investment philosophy centers around its conviction that people are the most important ingredient of value creation. Coalesce leverages its sector expertise, strategic resources and capital to collaborate with management teams to create shared success. For more information, visit: www.coalescecap.com. Follow Coalesce on LinkedIn: @Coalesce.

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SOURCE Coalesce Capital