Billionaire Ishbia Raises $400 Million for Industrial Fund (1)

Shore Capital Partners, a Chicago-based private equity firm founded by billionaire Justin Ishbia, has raised more than $400 million for its second industrial fund.

The closing extends a string of successful fundraising for the firm, following a dry spell for the private equity industry more broadly, driven by higher interest rates and macroeconomic uncertainty. Shore brought in more than $1 billion in new capital last year.

The Industrials Fund II will invest in areas including infrastructure-adjacent services and specialized maintenance and repair markets including residential overhead doors, utility services and aviation maintenance, the company said in a statement. ...