Fund V’s investors include institutions in the United States, Europe, Japan, China, and Australia, and also include college and university endowments, foundations, state and government retirement systems, corporate pension plans, diversified financial institutions, insurance companies, investment advisors, and Taft Hartley plans. Sentinel’s most recent prior fund, Sentinel Capital Partners IV, LP, initiated investment operations in 2009 with $765 million.
“We are delighted at this fundraising outcome and grateful for the strong show of support from our existing investors and from several new, global investors,” said David Lobel, founder and managing partner of Sentinel.
Sentinel Capital Partners invests in smaller middle market companies in the United States and Canada in partnership with management. The firm invests in management buyouts, recapitalizations, corporate divestitures, and going-private transactions of businesses with EBITDAs of between $7 million and $35 million. Sentinel targets eight industry sectors: aerospace & defense, business services, consumer, distribution, food & restaurants, franchising, healthcare, and industrials. The firm is headquartered in New York (www.sentinelpartners.com).
“Over the course of four funds, Sentinel has developed a consistent and reliable way of doing business that has proven appealing to corporate sellers, small business owners, institutional sellers, and management teams,” said John McCormack, Sentinel’s co-founder. “In a good number of businesses we have invested in, our ability and willingness to tackle financial and business complexity and relationship-intensive situations has worked well for us.”
Kirkland & Ellis was the legal advisor to Sentinel and the Private Fund Group of Credit Suisse Securities (USA) served in an advisory capacity with respect to the private placement.
© 2013 PEPD • Private Equity’s Leading News Magazine • 8-5-13