New Water Capital has held a first and final close of its inaugural private equity fund, New Water Capital Partners, LP (Fund I), at its hard cap of $406 million. The firm began fundraising in March with an initial target of $250 million. Capstone Partners was the placement agent for the new fund.
New Water invests in lower middle market companies with revenues between $30 million and $300 million. Sectors of interest include consumer products, retail and industrial manufacturing & services industries.
“We are overwhelmed by the tremendous demand for Fund I from an impressive investor base and grateful for the support of our families, friends and partners in the successful launch of New Water,” said Jason Neimark, one of New Water’s Co-Founders. “The firm’s experienced team and focused investment strategy attracted a diverse group of high quality investors in a short amount of time.”
New Water focuses on special-situations investments, such as turnarounds, underperformers, corporate carve-outs, and companies in transition. The firm was founded in September 2014 and is led by its partners Jason Neimark, Brian McGee, John Disa and Mark Becker. New Water is based in Boca Raton (www.newwatercap.com).
© 2015 PEPD • Private Equity’s Leading News Magazine • 7-21-15
