Bencis recently completed two successful exits. Equine Care Group, a leading network of equine clinics providing specialized veterinary care, was sold to Compagnie Nationale à Portefeuille, achieving a 3.9x gross MOIC. In addition, Elbfrost, a German distributor of frozen fish products serving retail and foodservice clients, was sold to NPM Capital, generating a 20.9x gross MOIC. Both transactions are expected to close in Q3 2025.