Dallas PE funds (2020 updates)?
Just wanted to see if anyone had any updates on the Dallas PE scene since the old threads are pretty dated and a bunch of new funds have popped up. Specifically interested in seeing what people think about Kainos, Trive, Insight, Paceline, Align, Sky Island and any others. Thanks!
Align is a solid LMM group (ex-Riverside) Not sure how the exact split works between Dallas and Cleveland, but 2 out of the 3 MPs are in CLE, so my sense is that will remain the HQ for some time. Focused on business services, software or tech-enabled services, distribution, HC services and IT. Just closed on $450mm raise. Very good people, personality-wise.
Latticework just raised a fund (ex ACAS and KRG HC guys) focused almost exclusively on HC services (including vet/pet).
Prophet Equity and a spin out from it, Crossplane, are operationally-focused funds, similar to Trive. Generally liked interactions with those groups so far.
Gauge - aggressive group that actively competes in competitive auctions. Historically a generalist, but trying to go more vertical (business services, HC, software, consumer, etc.). Interactions with them have been mixed, depending on the person. Strong processes and good reputation.
CenterOak - former Brazos guys, highly professional and impressive IMO. Actively compete in auctions and really focus on a buy and build strategy.
Valesco Industries - was a reputable mezz shop. Haven't heard or seen much from them lately.