Monomoy Capital Partners has held a final close on its third fund with $767 million of total commitments. The target for Fund III had been $650 million. Acalyx Advisors and Lazard Frères & Co. acted as placement agents for Monomoy during this fundraise.
Limited partners in the new fund include endowments, foundations, pension plans, insurance companies, family offices and funds of funds. “We are both humbled and energized by this tremendous vote of confidence from existing and new limited partners,” said Partner and Co-CEO Dan Collin.
Monomoy makes control investments of debt and equity of $25 million to $150 million in companies with $100 million to $600 million in annual sales. Sectors of interest include manufacturing, distribution, and consumer products. “Our distinctive approach to value creation makes Monomoy a strong private equity partner for any middle market business,” said John Stewart, a Monomoy Partner and head of the firm’s operations group.
Over the past eleven years, Monomoy has acquired over 40 middle market companies from a variety of sellers (including family owners, public companies, lenders and financial sponsors) in a wide range of special situations (including bankruptcy, asset sales, equity sales and restructurings).
“We continue to believe that we are entering a very good economic environment for the Monomoy investment thesis, and we remain committed to providing capital to middle market businesses that can benefit from strategic, operational or financial improvement,” said Justin Hillenbrand, a Monomoy Partner and Co-CEO.
With closing of the fundraise, Monomoy hired Acalyx Advisors (www.acalyx.com) to provide the firm with investor relations advisory services. John Muno and Katie St. Peters of Kirkland & Ellis (www.kirkland.com) provided legal counsel to Monomoy.
Monomoy Capital Partners is headquartered in New York (www.mcpfunds.com).
© 2016 Private Equity Professional • 6-28-16