Shore Capital Partners, a Chicago-based private equity firm founded by billionaire Justin Ishbia, has raised more than $400 million for its second industrial fund.
The closing extends a string of successful fundraising for the firm, following a dry spell for the private equity industry more broadly, driven by higher interest rates and macroeconomic uncertainty. Shore brought in more than $1 billion in new capital last year.
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The Industrials Fund II will invest in areas including infrastructure-adjacent services and specialized maintenance and repair markets including residential overhead doors, utility services and aviation maintenance, the company said in a statement. Shore's first infrastructure fund backed businesses such as commercial HVAC and plumbing as well as residential roofing.
"Industrials continues to be a natural extension of the Shore playbook," Ishbia said in the statement. "We're seeing sustained tailwinds across sub-categories, and this fund allows us to be an even more intentional, long-term partner to founders and management teams."
Shore Capital is a middle market investor with over $17 billion in assets under management. The firm's inaugural industrial fund raised $207 million in 2023. The private equity firm invests in multiple sectors including food and beverage, real estate and health care.
The new industrials fund will be led by Ishbia and Shore's John Sznewajs and Dan Spradling. The majority of the capital commitments came from existing limited partners of Shore, which was founded in 2009 and has 322 companies in its portfolio, according to PitchBook data.
Ishbia, a member of the Michigan family behind
