NexPhase Hits Hard Cap

NexPhase Capital has closed NexPhase Capital Fund IV LP (NPC IV) at its hard cap of $544 million.

NexPhase was formed in 2016 by former principals of Moelis Capital Partners, the private equity division of Moelis Asset Management. The NexPhase team is led by managing partners Kurt Larsen and Ted Yun.

The close of NPC IV – technically the second fund raised by NexPhase since spinning out from Moelis – was oversubscribed with backing from both existing investors and new institutional investors.

“We are incredibly grateful to have closed NPC IV at its hard cap with such strong support from our existing and new investors,” said Mr. Yun. “This successful fundraise is a testament to their confidence in our team and strategy, the strength of the platform we have built and the opportunities ahead.”

Typical NexPhase investments will have EBITDA of up to $30 million and will be active in the consumer, healthcare and software verticals. To date, NexPhase has completed four investments for NPC IV including, most recently, Indiana-based Oliver Wine Company, the 40th largest US winery with over 700,000 cases sold in 2020.

“As we continue to deploy this capital, we believe we are well-positioned to execute on many attractive investments in our target subsectors and help entrepreneurs achieve outsized growth while mitigating risks that often come with rapid scale,” added Mr. Yun. “We look forward to leveraging our industry expertise and operational playbook as we seek to create value and deliver attractive returns to our investors.”

MVision and Forum Capital Securities advised NexPhase on this fundraise and Kirkland & Ellis provided legal services.

© 2021 Private Equity Professional | April 22, 2021

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