50 South Capital

50 South Capital is a prominent global alternatives firm operating as a division of Northern Trust Asset Management, headquartered in Chicago, United States. The firm specializes in providing access to private equity, private credit, and hedge fund investment opportunities for institutional clients. With a robust portfolio, 50 South Capital manages over $25 billion in client assets as of December 31, 2023, demonstrating its significant presence and capability in the alternative investment landscape.

The firm's investment strategy is multifaceted, encompassing primary fund commitments, secondary transactions, and direct co-investments alongside other private equity sponsors. As a sophisticated limited partner, 50 South Capital commits substantial capital to a diverse range of private equity and credit funds globally, acting as a crucial source of funding for general partners. Their co-investment activities typically involve partnering in later-stage private equity deals, providing additional capital to established companies. For instance, their Private Equity Co-Investment Fund III successfully closed with $500 million in commitments, underscoring their capacity for significant direct participation.

When engaging in co-investments, 50 South Capital targets companies with enterprise values generally ranging from $100 million to $1 billion. Their direct investment checks for these co-investments are substantial, reflecting their focus on mature and growth-oriented businesses rather than early-stage ventures. While specific check sizes can vary widely based on the deal structure and total round size, their typical first co-investment checks generally fall within a range suitable for significant minority or substantial growth equity stakes in established private companies.