The Miami, Florida based private equity firm Pine Tree Equity III, LP disclosed to the public that it was able to close a US$100 million third private investment fund in April 2013. The firm's fundraising was completed in less than three months.
The US$100million capital infusion has brought the firm's total committed capital base to approximately $200million. Pine Tree Equity III was considerably oversubscribed than its original US$100million capital due to various approaches in the small capitalization space and high returns despite the challenging market.
Pine Tree's Managing Partner Jeff Settembrino commented, "We are extremely thankful to have received great support from existing investors and significant demand from new investors. Although we were oversubscribed, we wanted to keep our third fund at $100 million in order to remain dedicated to the small capitalization space where our committed capital and proven experience has helped transform entrepreneurial success stories into institutional platforms positioned for continued growth."
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