|By Business Wire||
|May 12, 2014 11:02 AM EDT||
Parallax Capital Partners, LLC (“Parallax”), a California-based private equity firm focused on making control equity investments in lower middle market software and related technology companies, today announced the final closing of its private equity fund, Parallax Capital Fund, L.P. (the “Fund”), with aggregate capital commitments of $115 million. Through the Fund, Parallax will continue to execute on its strategy of investing in software and related technology companies with a specific focus on companies with revenues between $5 million and $100 million, and where Parallax believes there are significant value creation opportunities. The Fund has completed three investments to date.
Founded in 1999, Parallax Capital Partners has consistently applied its operationally intensive investment process across its portfolio companies. Since inception, Parallax has participated in over 20 transactions, including with such companies as Micro Focus, Inovis, TriSyn, MultiGen, Computron, and Daptiv.
James Hale, Managing Partner of Parallax, said, “We are grateful for the commitment shown by our highly respected group of institutional investors. Our team is excited about its ability to capitalize on the current opportunity set and we look forward to continuing to implement our investment strategy.”
Atlantic-Pacific Capital was the global placement agent and Paul Hastings LLP was the legal counsel for the Fund.
About Parallax Capital Partners (www.parallaxcap.com)
Parallax Capital Partners, LLC is a California-based private equity firm focused on making control equity investments in lower middle market software and related technology companies, with a specific focus on companies with revenues between $5 million and $100 million where Parallax believes there are creative opportunities to significantly enhance a company's value. Since 1999, Parallax has participated in over 20 transactions representing over $250 million in transaction value. The Firm considers complex transactions or turnarounds, including leveraged buy-outs, recapitalizations, corporate divestitures, spin-offs, and build-ups.