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FOR IMMEDIATE RELEASE
$210 million fund is private equity firm's largest to date
November 2, 2007 – Charlotte, North Carolina – Carousel Capital announced today the final
closing of its third buyout fund, Carousel Capital Partners III, L.P. (CCP III). With $210 million
of equity commitments, CCP III is Carousel’s largest fund to date.
CCP III’s investor base consists primarily of institutional investors including pension funds,
endowments, foundations and financial services companies. In addition, more than 60 CEOs
from across the Southeast have invested in the new fund.
With CCP III, Carousel will continue its focus on acquiring small, profitable companies based in
the Southeastern United States. Since its inception in 1996, Carousel has invested in 24
companies including AGDATA, Axium Healthcare Pharmacy, Express Oil Change, Jameson,
Meineke Car Care Centers, Simpson Performance Products, Soteria Imaging Services and
Visador Holding Corporation.
Based in Charlotte, Carousel is led by a team of five partners -- Brian Bailey, Charles Grigg,
Bill Hobbs, Jason Schmidly and Nelson Schwab.
“We are pleased to represent such a high quality group of investors as we seek investment opportunities for our third fund,” said Brian Bailey. “With our new fund, we will remain focused
on partnering with management teams to acquire Southeastern-based companies and delivering
industry-leading financial returns to our investors.”
In total, Carousel has now raised more than $500 million of private equity commitments across its
three funds.
About Carousel Capital
Carousel Capital is a private investment firm that invests in companies located in the
Southeastern United States. Carousel’s investor base includes institutional investors and a group
of more than 60 current and former CEOs with significant operating experience. Since its
inception, Carousel has invested in 24 companies primarily in three targeted growth sectors:
business services; consumer products and services; and healthcare services.
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