Corridor Capital III Closes at $118 Million

September 16, 2020 | General News, Transactions

Corridor Capital, LLC (“Corridor Capital”), a Los Angeles-based private equity firm, announced the final closing of Corridor Capital III (“CC III” or the “Fund”). CC III closed with total limited partner commitments of $118 million, more than a 100% increase over its prior fund. CC III will continue to focus on investing in lower middle market businesses with $2-8 million of EBITDA and transforming the companies into which it invests through sustainable scalable infrastructure implementation and organic and acquisition-based growth.

CC III received commitments from a diverse group of limited partners which includes foundations, public-benefit corporations, funds-of-funds, family offices and high net worth individuals. The Corridor Capital team also made significant commitments to the Fund. As was the case for its prior fund, Corridor Capital will invest CC III alongside associated coinvestment.

“We are grateful to our limited partners for their support and confidence in us,” said Chief Executive Officer, Craig Enenstein. “We’re excited about the next chapter of growth for our firm and continuing our strategy of scaling leading lower middle market businesses in partnership with management.”

CC III has already completed its first two platform investments, in SPM Marketing & Communications (“SPM”) and FMT Solutions (“FMT”). SPM is a leading marketing services company for the health sector and has completed the add-on acquisition of Centretek Solutions, a website development and digital marketing provider to the health industry. FMT provides integrated educational content and tech-enabled marketing services for the retirement planning and wealth management services market.

Morgan, Lewis & Bockius provided legal counsel to the fund formation.