- Black Bay Partners closed its third fund at the hard cap of 425 million dollars, marking a milestone on its 10th anniversary - The fund attracted strong support from existing and new institutional investors, reflecting confidence in Black Bay's investment approach and sector expertise - Founded in 2016, Black Bay has now raised over 850 million dollars across three funds and completed 16 platform investments including in Fund III - Black Bay specializes in strategic investments in the energy industry and related chemical and industrial sectors across North America - The firm sees a robust pipeline of attractive investment opportunities and aims to partner with portfolio companies to accelerate growth and build durable businesses - Lazard Frères & Co served as the exclusive placement advisor, with Latham & Watkins LLP providing legal counsel for the fund - Black Bay’s team emphasizes their operational focus and industry experience as key to creating value for investors and stakeholders - For more information, visit the Black Bay Partners website or LinkedIn page

Black Bay Partners Closes Third Fund at $425 Million Hard Cap

Jan 22, 2026 9:00 AM Eastern Standard Time

NEW ORLEANS & NEW YORK--(BUSINESS WIRE)--Black Bay Partners (“Black Bay” or the “Firm”), a private equity firm specializing in strategic investments within the energy industry and adjacent chemical and industrial sectors, today announced the final closing of Black Bay III, L.P. (“Black Bay III” or the “Fund”) at the Fund’s hard cap of $425 million in capital commitments.

Black Bay III received strong support from both existing limited partners and new institutional investors, reflecting continued conviction in Black Bay’s thematic investment approach and sector expertise across the North American energy value chain, and related chemical and industrial markets.

“Reaching our hard cap of $425 million on the 10-year anniversary of the firm is an exciting milestone, and we are deeply grateful for the confidence and support from our existing and new investors,” said Michael LeBourgeois, Managing Partner of Black Bay Partners. “Our team’s industry experience and operational focus position us to create value for our investors and all other stakeholders.”

Founded in 2016, Black Bay has raised over $850 million in cumulative capital commitments and has made 16 platform investments, including one in Fund III.

“We are extremely excited about the market opportunity ahead of us in the energy and industrial ecosystem,” added Partners Tom Ambrose, Guy Cook, John Lancaster and Matt Schovee. “We see a robust pipeline of attractive investments for Fund III and look forward to partnering with portfolio company leadership teams to accelerate growth, enhance capabilities, and build durable, high-performing businesses.”

Lazard Frères & Co. LLC acted as the exclusive placement advisor, and Latham & Watkins LLP, led by partner Edward D. Nelson, served as legal counsel for Black Bay III.

About Black Bay Partners

Black Bay Partners is a private equity firm focused on investing in innovative, high-growth businesses within the energy industry and related industrial and chemicals sectors. Black Bay has raised over $850 million in cumulative capital commitments across three institutional funds and has offices in New Orleans and New York City.

For more information, please visit the Black Bay Partners website at https://blackbaypartners.com/ or the Black Bay Partners LinkedIn page at https://www.linkedin.com/company/blackbaypartners.



Contacts


(504) 227-3020
info@blackbaypartners.com