Ropes & Gray Serves as Fund Counsel on SkyKnight Capital’s $600 Million Raise

Ropes & Gray served as fund counsel to SkyKnight Capital on SkyKnight Capital Fund III, L.P. (“Fund III”) which announced its final close on April 6 with $600 million in commitments from family offices, foundations, endowments, pensions, and institutional investors. With an initial target of $500 million, Fund III exceeded its target and was oversubscribed, reaching its hard cap of $600 million in five months.

SkyKnight is a private equity investment firm that focuses on partnering with high quality businesses in acyclical growth sectors alongside exceptional management teams. Since its launch in 2015, SkyKnight has made eleven platform investments which have further made more than 50 add-on acquisitions. SkyKnight now manages over $2 billion of capital across its funds and co-investment vehicles.

The Ropes & Gray team was led by asset management partner Sarah Davidoff, and included tax partner Jay Milkes, asset management associates Ryan DiLorenzo, Jianing Zhang, Kyung Paik and Daniel Olshan, and tax associate Kathryn Seevers.

Sarah also led the Ropes & Gray team that served as fund counsel on SkyKnight Capital Fund II, which closed on July 23, 2019.