Pacific Avenue Capital Partners Completes Continuation Vehicle Investment With Emerald Textiles

Pacific Avenue Capital Partners, LLC ("Pacific Avenue"), a Los Angeles-based private investment firm focused on complex situations in the middle market, announced that it has raised new capital to purchase Emerald Textiles ("Emerald" or the "Company"), the leading provider of fully outsourced healthcare linen management services in the Western United States, from existing limited partner investors through a continuation vehicle. The transaction and Pacific Avenue's continued involvement position Emerald to take advantage of significant market opportunities, while also providing liquidity for the original limited partners. The vehicle is funded by a group of leading institutional investors including Glendower Capital, funds and accounts managed by BlackRock Private Equity Partners, DWS Private Equity, Allstate Investments, CH Investment Partners, and other blue-chip investors. Furthermore, the transaction includes a significant investment from the Emerald management team and Pacific Avenue.