Finback Investment Partners Raises $350 Million in Oversubscribed Debut Private Equity Fund
--Finback Will Pursue Investments that Align with a Positive Societal Impact--
MIAMI, September 14, 2021-- Finback Investment Partners announced today that is has successfully closed on its debut private equity fund, Finback Investment Partners 2021 Fund. The Fund, which was oversubscribed, closed at its hard cap of $350 million, exceeding its initial $250 million target. Finback's fund, raised in three months, includes $38 million in general partner commitments.
Finback's leadership team consists of Co-Founders and Managing Partners – Jeb Bush, George Huber, Jack Oliver, and Jeb Bush Jr. The Partners, complemented by a team of private equity professionals, have successfully invested together since 2017, deploying approximately $250 million across 10 portfolio companies. This legacy portfolio has achieved current net returns for investors of 2.5x MOIC and 52.1% IRR.
The new fund expects to make between 10 and 12 investments, each averaging between $20 million and $40 million in equity size, alongside leading private equity firms. Finback will pursue a diverse set of business verticals including business services, information technology, education, healthcare, industrials, digital infrastructure, and financial services.
Across these verticals, Finback will pursue investments that align with a positive societal impact. While it is not the only investment criteria, contributing private capital to address complex social problems will be a key tenet to Finback's decision-making. Through the investment process and portfolio management, the firm is confident it can drive successful outcomes for all stakeholders – investors, portfolio companies, employees, and communities.
Jeb Bush, Chairman and Managing Partner of Finback, said of the new fund, "In these extraordinary times, we thank both our existing and new limited partners for their strong support. We now look forward to putting this capital to work in partnership with world class private equity firms to drive value for our portfolio companies, our partners, and our LPs. Our goal is to do all of this while making an important positive impact on society."
Managing Partners George Huber and Jack Oliver added, "Building on the success of our legacy portfolio, we will continue to focus on our competitive edge as it relates to sourcing deals, delivering needle-moving priorities for our portfolio companies, and generating outsized returns to all investors."
About Finback Investment Partners
Finback Investment Partners is a private equity firm that makes active minority investments, alongside leading private equity managers, across middle-market and growth equity companies. Finback targets a wide range of industries and companies that will benefit from the firm's strategic expertise and business development execution. The firm employs an outcomes-orientated approach that leverages its deep relationship network and extensive experience to help unlock value for portfolio companies.
Jeffrey Taufield/Todd Fogarty
Finback Investment Partners
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