– Hobe Mountain Capital, a lower middle market private equity secondaries investment firm, announced its launch to target growing opportunities in the U.S. secondaries market.
– Co-founders Alexa Rachlin and Todd Buys are spinning out from Declaration Capital, the family office of David M. Rubenstein, where they managed a dedicated secondaries strategy.
– Hobe Mountain acquires partnership interests and invests in GP-led continuation vehicles across private equity, venture capital, real estate, natural resources, and other private investment strategies.
– Typical equity checks are below $25 million.
– The firm aims for an even mix of LP-led and GP-led interests to balance diversification and conviction.
– Alexa R. highlighted opportunities in the lower middle market as larger players focus on bigger deals, emphasizing the firm’s partnership-oriented approach and long-term mindset.
– Todd Buys, CFA noted a liquidity crunch for LPs due to slower IPO and M&A activity, highlighting the team’s experience and collaborative approach to navigate complex investments.
