Sweetwater Capital Partners

Sweetwater Capital Partners is a specialized private equity secondaries firm based in Encinitas, California, known for providing tailored liquidity solutions within the private equity market. As a boutique firm, Sweetwater Capital focuses on acquiring limited partnership interests in private equity funds and offering structured solutions to general partners seeking to manage their portfolios or provide exits for their investors. The firm leverages over two decades of experience in the secondaries space, demonstrating a deep understanding of the complexities and nuances of this niche market.

The firm has successfully raised substantial capital across multiple funds, underscoring its significant presence and capacity in the secondaries market. Notably, Sweetwater Capital Partners Fund V, L.P., closed in 2021 with $500 million in commitments, following its predecessor, Fund IV, which secured $300 million in 2017. Cumulatively, Sweetwater Capital has raised over $1.5 billion in capital across its various investment vehicles, enabling it to pursue a diverse range of secondary opportunities.

Sweetwater Capital's investment strategy is centered on identifying attractive opportunities to acquire illiquid private equity fund stakes, often providing much-needed liquidity to limited partners. While specific transaction sizes are not publicly detailed for every deal, their fund sizes indicate a capacity for significant investments. Based on their latest fund, Sweetwater Capital typically deploys capital in transactions ranging from approximately $10 million for smaller, strategic LP positions to potentially over $150 million for larger, more comprehensive portfolio acquisitions or significant single stakes. This flexible approach allows them to engage in a broad spectrum of secondary market transactions, from complex structured solutions to straightforward LP stake purchases.