BAY HILLS CAPITAL MANAGEMENT, LLC

Thesis

Bay Hills Capital Management, LLC is an independent, employee-owned firm established in 2006, specializing in small and lower middle-market private equity strategies. Their core investment thesis centers on the small buyout segment, believing it historically outperforms larger buyouts due to a larger, more inefficient deal market, lower purchase price multiples, and greater capacity for operational improvements. Their strategy involves partnering with motivated, returns-oriented private equity sponsors with deep sector knowledge and operational expertise. Bay Hills Capital employs a disciplined approach to identify and select high-priority investment opportunities, building focused portfolios through primary fund investments, direct co-investments, and secondary purchases. The firm's investment appetite includes a focus on buyout strategies within North America, with representative industry investments spanning Aerospace & Defense, Industrial & Transportation, Healthcare Services, Information Technology Services, Niche Manufacturing, and Energy Services. While specific current AUM figures are not readily available, historical data from December 31, 2008, indicates that Bay Hills Capital managed $610 million in total assets. Bay Hills Capital Partners VI, a fund opened in January 2023, has a fund size that is not publicly disclosed.