Windjammer Capital Investors is pleased to announce that it has successfully closed on $574 million in subscriptions for the Windjammer Senior Equity Fund III, L.P. Bob Bartholomew, Chairman & Managing Principal, stated that "the vast majority of Windjammer's existing limited partners recommitted to Fund III and we are grateful for the privilege of representing a world class group of limited partners to include several new prominent investors across a broad spectrum of investor classes."
Founded in 1990, this is the third institutional fund for Windjammer and the fourth portfolio created by the firm which initially invested solely for the account of Pacific Life of Newport Beach. Windjammer invests in a variety of securities including subordinated debt, preferred stock and equity in leading middle market companies operating in a broad range of industries. The firm pursues both control and non-control equity opportunities and has a long history of partnering with management teams, family owned businesses and other equity sponsors.
Increasingly, Windjammer has invested in control equity positions in portfolio companies including Maxcess International and Automatic Bar Controls, which were completed in 2005. "Both companies are global leaders in their respective markets providing mission critical products and high value to cost benefits to their customers," stated Costa Littas, Managing Principal. "Our goal is to be proactive with our portfolio companies, working closely with management to enhance the strategic value of each underlying company," added Costa. "A significant point of differentiation of Windjammer is our ability to provide all of the capital required below the senior debt layer, creating a more stable capital base for our portfolio companies and greater certainty of closing for deal sources," stated Bob. Fund III will allow for investments of up to $90 million in a single portfolio company, although Windjammer will typically target initial platform investments ranging between $15 and $50 million.