6 days ago
- Business
- Wall Street Journal
Painswick Capital Raises $1.5 Billion for Booming Secondary Deals
Recently formed Painswick Capital Management tapped growing investor appetite for secondhand private-equity deals involving a single company to raise about $1.5 billion for the firm's debut secondary fund.
The final tally for Painswick Capital Fund I surpassed the firm's $750 million target and marks New York-based Painswick's first fund since its founding last year by John Garcia in partnership with midmarket-focused AEA Investors, another private-equity firm in the city. Garcia remains nonexecutive chairman at AEA, where he had worked for more than two decades, including as chief executive.
