About This Fund
Saothair Fund I, L.P. is the $125 million inaugural private equity fund of Saothair Capital Partners, a Wayne, Pennsylvania-based firm founded in 2019 by Kevin Madden and Richard Lozyniak — former executives of KPS Capital Partners. The fund achieved its final close on October 31, 2023, completing its fundraising in under five months and exceeding its initial target. Saothair Capital Partners focuses exclusively on making control equity investments in lower-middle market manufacturing and industrial companies facing complex transitions. The firm's name — an Irish word meaning 'labor' or 'hard work' — reflects its operationally intensive investment philosophy and the co-founders' commitment to transformational, hands-on ownership of manufacturing businesses.
Saothair Fund I targets manufacturing companies requiring specialist operational expertise to unlock value through corporate carve-outs, out-of-court restructurings, bankruptcy acquisitions, turnarounds, and other special situation transactions. The fund invests across a broad range of industrial sub-sectors including paper and packaging, plastics, metals processing, automotive and heavy truck components, building products, healthcare-related products, food and beverage, and niche manufacturing. Saothair's team brings decades of operational experience in manufacturing — honed at KPS Capital Partners, a firm with over $15 billion under management in manufacturing private equity — allowing the firm to drive substantive improvements in operations, procurement, supply chain, and go-to-market strategy within portfolio companies.
The Fund I investor base was anchored by prestigious college and university endowments, single- and multi-family offices, and outsourced CIOs, demonstrating strong institutional endorsement of Saothair as an emerging manager. The fund was placed by Pacenote Capital LLC and administered by IQ-EQ. The success of Fund I paved the way for Saothair Fund II, which closed at $300 million in July 2025 — more than double the inaugural vehicle and within 21 months of Fund I's close — confirming the durability of Saothair's thesis that manufacturing special situations remain a structurally undercapitalized opportunity in the US private equity landscape.