Black Bay Partners has closed Black Bay III, L.P. at its hard cap of $425 million, marking the firm’s largest fund to date and underscoring investor conviction in its specialized strategy across the energy industry and adjacent chemical and industrial sectors.
Founded in 2016, Black Bay has now raised over $850 million in cumulative capital commitments and completed 16 platform investments, including one in Fund III.
“We see a robust pipeline of attractive investments for Fund III and look forward to partnering with portfolio company leadership teams to accelerate growth, enhance capabilities, and build durable, high-performing businesses,” said partners Tom Ambrose, Guy Cook, John Lancaster and Matt Schovee.
Lazard Frères & Co. LLC served as exclusive placement advisor on the fundraise, while Latham & Watkins LLP, led by partner Edward D. Nelson, acted as legal counsel to Black Bay III.
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