Paladin closes third fund, exceeding target of $300 million
Paladin Capital Group closes its third fund, Paladin III L.P., with equity commitments of $340 million; Paladin, a leader in homeland security investing, has more than $980 million under management across multiple funds and thirty-one portfolio companies
Private equity firm Paladin Capital Group said it has closed its third fund, Paladin III L.P., with equity commitments of $340 million. The fund was raised against an initial target of $300 million, which the firm says underlies investor confidence in Paladin and its reputation as a national leader in homeland security investing. Paladin has more than $980 million under management across multiple funds and thirty-one portfolio companies. “Exceeding our original target underlines the continued confidence in our ability to invest in and help manage companies that contribute to our nation’s security,” said Michael Steed, a founder and managing partner of Paladin.
The Washington, D.C.-based firm said many of the investors in Paladin III, including top-tier public pension funds, corporate and jointly-trusteed funds, and high-net worth individuals are repeat Limited Partners. “Paladin’s investors are confident in our highly-regarded team of professionals and our ability to attract best-of-breed companies with excellent growth opportunities in this vital space,” said Managing Director Lt. General (Ret.) Kenneth Minihan. “We look forward to providing the necessary expansion capital and value added assistance to all of our portfolio companies to maximize their future potential.”
Paladin’s leadership and strategic advisors comprise high-level former government executives and private sector experts with experience in finance and national security. The firm says that, collectively, Paladin’s professionals have more than 100 years of combined experience and have completed more than 150 transactions across several industries.
Paladin got off to a good start in deploying the fund’s investment strategy, with $67 million invested in eight new portfolio companies. Paladin says it will continue to focus on alternative energy, bio-fuels, and critical infrastructure protection, among other industries that support its core expertise in homeland security. Paladin III investments include: Adapx; DigitalBridge Communications; Luminus Devices; Initiate; Quantalife, Renewable Energy Products; Royalty Pharma; and Unitrends.
