NexPhase Beats Fund V Target
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NexPhase Beats Fund V Target

NexPhase invests in consumer, healthcare and software companies with EBITDA of up to $30 million

NexPhase Capital has closed NexPhase Capital Fund V LP (NPC V) with $795 million in capital, $45 million above its $750 million target.

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 V – technically the third fund raised by NexPhase since spinning out from Moelis – was oversubscribed with backing from both existing investors and new institutional investors.

“The overwhelming support from our investors demonstrates the strength of our platform and talented team,” said Mr. Yun. “Our thematic approach to sourcing compelling investment opportunities, paired with the methodical application of our value creation strategy, has delivered attractive returns for our investors. With NPC V, we look forward to continuing to partner with exceptional entrepreneurs and management teams to build institutional-quality companies within the most attractive segments of our industry verticals.”

Typical NexPhase investments will have EBITDA of up to $30 million and will be active in the consumer, healthcare and software verticals. Since its founding in 2016, NexPhase has completed over 100 investments, including add-ons, and targets control equity investments between $25 million and $150 million in consumer, healthcare and software companies with EBITDA of up to $30 million.

“We are proud to announce the successful close of NexPhase Capital Fund V,” said Ariana Scotti, a vice president and the head of investor relations at NexPhase. “In a challenging fundraising environment, we are deeply grateful for the enthusiastic support from both our existing investors and the new investors who have come onboard. Exceeding our target for NPC V speaks volumes about the trust and confidence placed in NexPhase, and we remain committed to continuing to deliver exceptional results for our valued investors.”

With the close of NPC V, NexPhase has now raised approximately $2.6 billion of capital. NexPhase’s earlier fund, NexPhase Capital Fund IV LP closed at its hard cap of $544 million in April 2021.

NexPhase is headquartered in New York City and has a team of 21 investment professionals, including 8 partners that is supplemented by a team of 15 senior-level C-suite experienced operating executives.

Atlantic-Pacific Capital was used by NexPhase as its fundraising adviser and Kirkland & Ellis provided legal services.

© 2023 Private Equity Professional | October 19, 2023

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