Sentinel Closes on $2.6 Billion

Sentinel Capital Partners has held a first and final closing of Sentinel Capital Partners VI LP with $2.1 billion of capital and Sentinel Junior Capital I LP with $460 million of capital. The junior capital fund will primarily serve as a mezzanine financing source for new Sentinel platform companies.

Limited partners in the new funds include college and university endowments, foundations, state and government retirement systems, corporate pension plans, insurance companies, sovereign wealth funds, investment advisors, family offices, and Taft-Hartley plans located in the United States, Europe, China, Japan, Australia, and the Middle East.

“We are delighted by this fundraising outcome and grateful for the strong show of support from our existing investors and several new prominent investors,” said David Lobel, founder and Managing Partner of Sentinel. “We are also very pleased to launch our inaugural junior capital fund, which will serve the financing needs of our lower middle market companies.”

Sentinel Capital Partners invests in management buyouts, recapitalizations, corporate divestitures, and going-private transactions of businesses with EBITDAs up to $65 million. Sentinel targets eight industry sectors: aerospace & defense, business services, consumer, distribution, food & restaurants, franchising, healthcare services, and industrials. The firm is headquartered in New York (www.sentinelpartners.com).

“Over the course of five private equity funds and 22 years, 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 many of the businesses we have invested in, our ability and willingness to tackle financial and business complexity and relationship-intensive situations have worked well for us.”

Sentinel’s earlier fund, Sentinel Capital Partners V LP, closed in July 2013 with $1.3 billion of committed capital and is approximately 80% invested.

The Private Fund Group of Credit Suisse Securities (USA) advised Sentinel on the raising of the new funds and Kirkland & Ellis provided legal services.

© 2018 Private Equity Professional | January 25, 2018

Print Friendly, PDF & Email

Related Articles

Monogram Closes at Hard Cap Monogram Capital Partners has held a final closing of Monogram Capital Partners I LP at its hard cap of $152 million. The new fund was oversubscribed ...
BelHealth Adds Associate BelHealth Investment Partners has hired Jonathan Laifer as an Associate. Mr. Laifer will be responsible for deal origination, due diligence, transacti...
Angeles Equity Adds New Team Members Angeles Equity has added two new team members with the hirings of Martin Mumford as an operating partner and Jarret Rutstein as an associate. “We b...
New Operating Director at Paine Schwartz Paine Schwartz Partners has hired agribusiness executive Rick Greubel as an Operating Director. “We have known Rick for many years and are excited ...
NEP Adds Operating Partner Norwest Equity Partners (NEP) has expanded its executive team with the addition of Tony Armand as an operating partner. Mr. Armand has had a past r...
Elan Growth Launched in California Craig Dupper has formed a new private equity firm, Elan Growth Partners, to invest in lower middle market companies based in Southern California. E...