Entertainment-focused private investment firm Coral Tree Partners has closed its inaugural round of funding with committed capital of approximately $470 million, well above the initial target of $350 million.
Per Coral Tree, inaugural fund was “significantly oversubscribed above its original hard cap” and “received strong support from a range of high‐quality institutional investors, including endowments, foundations, insurance companies, pension plans, institutional family offices and funds‐of‐funds.”
Founded by former Shamrock Capital Advisors partners Will Wynperle and Alan Resnikoff, Coral Tree Partners is focused on investments in the media, entertainment, marketing services, and communications industries, lower middle market buyouts, and late state growth equity investments.
Currently, the Los Angeles-based company has two investments to its name: Loaded, a Santa Monica, Calif.‐based global talent management and marketing firm that works in the gaming influencer market, and Subject Matter, a Washington, D.C.‐based strategic communications, creative content, advertising and government relations firm.
Along with Wynperle and Resnikoff, the Coral Tree Partners team includes Mike DiLorenzo, Matt Greenzang and Jake Simons, who have worked with the founders previously, as well as a group of executive advisors comprised of several CEOs, including the former CEOs of Giant Creative, Learfield Sports, MarketCast and Questex.
“Our investment experience in our sectors combined with our lower middle market focus differentiates us in the market,” Wynperle said. “Our investors appreciate our strategy and value add approach, and we are fortunate to have them as long‐term partners of Coral Tree.”
Credit Suisse acted as placement agent to Coral Tree for its inaugural fund. Simpson Thacher acted as legal advisor.