National Association of Investment Companies (NAIC)

NAIC would like to congratulate OceanSound Partners on closing their second fund with $1.49 billion in capital commitments, significantly above their initial hard cap of $1.3 billion. Since launching just before the pandemic, OceanSound has not only oversubscribed two funds, but also returned substantial capital to investors and closed nearly 50 transactions. “The successful closing of our second fund can be attributed to OceanSound’s differentiated, all-weather investment strategy together with proven execution which has included capital returned to investors from our inaugural fund,” stated Joe Benavides, Managing Partner of OceanSound. OceanSound Partners is a growth-oriented private equity firm that invests in technology and technology-enabled services companies serving government and highly regulated enterprise end markets. We wish the OceanSound team continued success as they build on this incredible momentum. #PrivateEquity #diverseleadership #GrowthCapital

Recent deals announced by NAIC Member firms and their portfolio companies: • Smartsheet to be Acquired by Blackstone and Vista Equity Partners for $8.4 Billion [https://lnkd.in/e9wa55am] • Wind Point Partners-backed Pavion Acquires ECD Systems Arizona [https://lnkd.in/eh7kvzBQ] • Stellex Capital Management acquires UK-based Fox Brothers Holdings Group [https://lnkd.in/eEDzn2N5] • Clearlake Capital Group-Backed DigiCert Acquires Vercara [https://lnkd.in/euS_nNeN] • Brightwood Capital Partners with Wacona Capital [https://lnkd.in/daq7s53E] • Siris Capital Group Announces Sale of Fiery to Seiko Epson Corporation [https://lnkd.in/eZADQzwB] • Gnosis Freight Announces Strategic Growth Investment from Vista Equity Partners [https://lnkd.in/ggYhpTkc] • Mill Point Capital Partners-Backed CREO Group Acquires United Solutions - Plastics [https://lnkd.in/et3bnGa9] • Stonehenge Capital Company Invests in DePaul Community Health Centers [https://lnkd.in/efRjqhMz] • ICV Partners, LLC Invests in a Leading Valvoline Oil Change Franchisee [https://lnkd.in/e_bYSQdP] • Brightwood Capital Completes Secondary Sale of Special Purpose Vehicle to Tikehau Capital [https://lnkd.in/eB6fFhez] • AVANT BIO Invests in Nomic Bio, PathPresenter, and PL BioScience GmbH [https://lnkd.in/echC5fHu] • OceanSound Partners Portfolio Company Acquires AGENT511 [https://lnkd.in/eZfk_XPa]

During our 2024 LP Meetup this afternoon, we hosted a powerful discussion on the state of Diversity, Equity, and Inclusion (DEI) in asset management. NAIC President and CEO Robert L. Greene (Bob) led a candid discussion with a panel of esteemed speakers that tackled the evolving sentiment around DEI, from the surge in awareness and initiatives in 2020 to the recent backlash highlighted by the Supreme Court's repeal of Affirmative Action in higher education. The panelists examined the impact of shifting corporate priorities and reduced funding for DEI programs, and shared how a continued focus on diversity is essential to achieve the best returns. Panelists highlighted how "diversity is performance" and emphasized the important role leadership plays in creating an inclusive corporate culture. Special thanks to our distinguished panelists who shared their expertise and insights with LP Meetup participants: Robert Raben (The Raben Group), Terence Rozier-Byrd (Willkie Farr & Gallagher LLP), and Marcos Torres (RBC Capital Markets). #LPMeetup2024 #AlternativeInvestments #diverseleadership #institutionalinvestors

We kicked off our 2024 LP Meetup today with an engaging panel discussion with industry leaders who shared insights about building strong LP/GP relationships. Mehdi Khodadad (Sidley Austin LLP) moderated a discussion with Jennifer Carnithan Choi (Institutional Limited Partners Association (ILPA)), David J. Grain (Grain Management, LLC), Sherrese Clarke Soares (HarbourView Equity Partners), Joe Benavides (OceanSound Partners), and Paul Viera (EARNEST Partners), that addressed the evolution of LP/GP relationships, including the impact of technology in fund management and the importance of developing true partnerships between LPs and GPs. The speakers discussed how AI is reshaping fund management, the importance of trust and transparency in GP reporting to LPs, the increasingly active role of LPs in GP investment decisions, and more. A huge thank you to our industry experts and participants for diving deep into these significant shifts. #LPMeetup2024 #diverseleadership #alternativeinvestments

Our 6th Annual LP Meetup has begun! Carmen Ortiz-McGhee, Chief Operating Officer, is providing opening remarks to 53+ institutional investors and 65+ NAIC Member Firms who will participate in more than 250 one-on-one meetings today to build new relationships and discuss investment strategies. Special thanks to our Platinum and Gold 2024 LP Meetup Sponsors: Vista Equity Partners, William Blair, Amazon Web Services (AWS), BlackRock, Cabrera Capital Markets, EY, GCM Grosvenor, Lockton, Sidley Austin LLP, Stellex Capital Management, UBS, U.S. Bank, and Wells Fargo. #institutionalinvestors #assetmanagement #capitalaccess

Daniel Santamarina's entrepreneurial journey taught him the unique challenges faced by diverse founders. The Hispanic community comprises nearly 20% of the nation's population and 13% of GDP, yet only attracts 2% of venture capital. Today, those learnings drive the mission of Dux Capital, a venture fund that supports Hispanic-owned seed-stage businesses across the U.S. and Latin America. Daniel and his co-founders, José Luis Silva Vázquez and Susana Espinosa de los Reyes, are on a mission to bridge the gap for underrepresented Latino entrepreneurs. By leveraging their deep operational and investment expertise, they provide not just funding, but also knowledge on how to scale, increase margins, and access opportunities for cross-border growth. Their approach underscores the belief that diverse founders can excel, especially when backed with the right resources. Through investments in companies like Pura Mente, Cubbo, and Mozper, Dux Capital is redefining opportunities for the Hispanic community. Their commitment is clear: to harness the untapped potential of Hispanic entrepreneurs who, despite being resourceful and resilient, often face barriers in accessing venture funding. By supporting these founders, Dux Capital aims to transform the narrative around diversity and demonstrate the significant value of investing in Hispanic-owned ventures. Learn more: https://lnkd.in/g_52sujZ #HispanicHeritageMonth #VentureCapital #DiverseLeadership

Applications for our 2025 Paradigm Changers Summer Internship Program are now open! College women, this is your chance to gain the skills, knowledge, and exposure to pursue a career in alternative investments (private equity, venture capital, private credit, and more). Ethnically diverse undergraduate and graduate college women from ALL majors and universities are encouraged to apply. About the program: Interns participate in a comprehensive pre-training program which is followed by an 8-10 week compensated internship at an alternatives investment firm June to August 2025. To apply and learn more, visit https://lnkd.in/gDwExUWk Applications close November 15. #WomeninAlternatives #FinanceInternship #womenInfinance

Thank you to our 2024 LP Meetup sponsors! With their support, we'll facilitate more than 250 one-on-one meetings between LPs and our Member Firms on Thursday. LP Meetup is our premier event that connects diverse-owned alternative investment firms with institutional investors. It’s just one of the many ways we help our members access capital and foster growth within the industry. #CapitalAccess #DiverseInvestors #institutionalinvesting

As we close out the 2024 UP Fellowship, we’re proud to reflect on the impact and growth we’ve witnessed in the 23 amazing fellows! We thank them for bringing their drive, resilience, and passion for the industry. Watching them step into their power and seize every opportunity has been an honor.    Thank you to our mentors for their unwavering commitment to guiding the fellows, sharing their wisdom, and investing in the next generation of leaders. Their impact extends far beyond this program!   Finally, an enormous thank you to our sponsor, UBS, for their generous support in making this the largest cohort to date! Their partnership has been instrumental in expanding the reach of the fellowship and enhancing the programming that shapes the future of the industry. #WomeninFinance #CareersinAlternatives #CareerDevelopment

NAIC is happy to welcome Palistar Capital into our network. Palistar Capital is an alternative asset manager focused on mission-critical digital infrastructure. The firm seeks to invest through direct asset ownership as well as by developing innovative financing solutions to complex problems for leading global digital infrastructure-related companies. Led by Managing Partner and Founder Omar Jaffrey, the firm invests directly in operating companies and assets and seeks to provide innovative financing solutions for leading global communications companies. The Palistar team is currently investing out of its second dedicated Digital Infrastructure Fund, which has approximately $2.5 billion of assets under management. #diverseleadership #infrastructure #alternativeinvestments