HOBE

What they do

Hobe Mountain Capital is a specialized private equity investment firm based in West Palm Beach, Florida. Founded in 2025 by Alexa Rachlin and Todd Buys, the firm spun out of Declaration Capital, the Rubenstein family office. Hobe Mountain focuses exclusively on the "inefficient" lower middle market, targeting smaller secondary transactions that are typically overlooked by large institutional buyers. The firm leverages its institutional pedigree and family office heritage to acquire limited partnership (LP) interests and invest in general partner (GP)-led continuation vehicles. They position themselves as a partnership-oriented, long-term counterparty for family offices, funds of funds, and smaller GPs.

What they look for

Hobe Mountain’s core thesis is that the lower middle market for secondaries is fragmented, data-poor, and underserved by larger capital pools. They believe this "missing data" creates an opportunity for outsized returns. As major secondary players have scaled up to chase multi-billion dollar deals, Hobe Mountain targets the "long tail" of smaller transactions where competition is lower and discounts may be more attractive.

Stage

Series B+

Sectors

Proptech

Based

West Palm Beach, US