Latham & Watkins Advises Prospect Partners on US$225 Million Fund Formation

Prospect Partners, a leading pre-lower-middle market private equity firm, has announced the final close of Prospect Partners Fund V (the Fund), at its hard cap of US$225 million. The oversubscribed Fund hit its hard cap after nine months in the market. The Fund continues Prospect’s strategy of backing entrepreneurs in high potential pre-lower-middle market businesses. As with prior Prospect vehicles, Fund V invests in North American businesses at inflection points in the specialty services, niche manufacturing, and value-add distribution sectors.

Latham & Watkins LLP represented Prospect Partners on the fund formation with an investment funds team led by New York partner Matthew Chase, with associates Ali Beidoun and Monica Zhang. Advice was also provided on tax matters by New York partner Gregory Hannibal, with associates Arash Lotfi and Claire Park,* and on funds regulatory matters by Washington, D.C. partner Aaron Gilbride.

*Admitted to practice in Massachusetts only.