SkyKnight closes oversubscribed Fund V at $2B hard cap
What's the deal? SkyKnight CapitalDealroom has a profile for this one. Try Dealroom → has closed its fifth fund, Fund V, at $2 billion in commitments. The San Francisco firm announced the final close on 1 July 2026, with backing from endowments, foundations, pensions, family offices, and institutional investors.
Why now? The fund was more than three times oversubscribed in under six months, according to SkyKnight. It also saw over 100% net retention from existing limited partners, mirroring its previous Fund IV.
What's the endgame? SkyKnight plans to invest Fund V in roughly a dozen companies, targeting high-quality businesses in acyclical growth sectors alongside management teams. The firm focuses on healthcare, financial services, and tech-enabled services companies in North America.
By the numbers: With Fund V closed, SkyKnight will manage about $6.5 billion in assets across a team of 35 professionals. Since launching in 2015, it has made 23 platform investments, which in turn have made more than 100 add-on acquisitions.
"Fund V was more than three times oversubscribed in less than six months which speaks to the trust our partners place in SkyKnight," said partner Mara HuntDealroom has a profile for this one. Try Dealroom →. Managing partner Matthew Ebbel said the fund "represents a significant milestone" and would let the firm keep executing the strategy it has "refined over the past decade."
The signal: Raising an oversubscribed fund without an intermediary points to strong limited partner conviction at a time when many private equity firms face tougher fundraising. SkyKnight's high retention and focus on acyclical sectors suggest investors are favouring managers with a narrow, proven playbook.
Read more: Associated Press
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