Cascadia Capital CEO Michael Butler. (Cascadia Capital Photo)
Cascadia Capital will invest up to $500 million in Pacific Northwest companies with the creation of its new “Investment Club,” a unique group of family offices and other backers interested in long-term deals.
The Seattle-based investment bank is targeting $25 to $75 million per investment as part of the club, which is made up of Cascadia Private Capital — its merchant banking affiliate — as well as Scout Partners (family office of The Blackstone Group founder Pete Peterson) and Petrus Asset Management Company (family office of business magnate Ross Perot).
Cascadia Capital Michael Butler told GeekWire that there’s a big opportunity to invest “patient capital” in family-owned and privately-held companies across the Pacific Northwest looking to retain independence or avoid institutional private equity funds.
“Access to this Investment Club capital will broaden the range of services Cascadia can offer to our core client base, namely the family business owner and entrepreneur,” he said. “Furthermore, we have recognized a rising trend of family offices outside of the region seeking a way to access the high-quality businesses in the Pacific Northwest.”
The additional capital will provide dollars for companies in a region long criticized for a dearth of …read more