After just five months of fundraising, Monomoy Capital Partners has held an oversubscribed and above target closing of its fifth fund with $2.25 billion of capital.
Fund V reached its $2.0 billion limited partner hard cap within eight weeks of launch and Fund V is more than twice the size of its $1.1 billion oversubscribed fourth fund which closed in November 2021.
Both new and returning limited partners invested in Fund V including endowments, foundations, pension plans, insurance companies and family offices.
“The swift, oversubscribed closing of Fund V marks a meaningful milestone in the continuation of Monomoy’s decades-long investment strategy and operational value-creation approach,” said Dan Collin, a founding partner and co-CEO of Monomoy. “We appreciate the confidence this well-rounded group of limited partners has expressed in its commitment to us. Looking forward, we remain committed to being the partner of choice for middle-market businesses seeking to reach their full potential.”
Monomoy makes control investments of debt and equity in companies with $20 million to $100 million of EBITDA. Sectors of interest include manufacturing and distribution businesses across industrial and consumer product sectors in North America and Europe. Fund V has not yet closed on any new platform investments.
“The wide-ranging enthusiasm for Fund V is a testament to Monomoy’s dedicated team and investment strategy that continues to advance the scale and quality of our global partnerships,” said Justin Hillenbrand, a founding partner and co-CEO of Monomoy. “Success in fundraising is a virtuous cycle — reflecting the ongoing hard work of our entire organization and valued portfolio company partners. We are deeply grateful to all those who have contributed to our ability to expand Monomoy’s impact across the middle market with Fund V.”
Monomoy used Probitas Partners as its placement agent on this fundraise and Ropes & Gray provided legal services. The Ropes & Gray transaction team included partners Amanda Persaud and Jon Rash, and tax partner Sam Duncan.
“We are thrilled to have represented Monomoy on its exceptionally fast-paced closing of its fifth fund,” said Ms. Persaud. “We are grateful to the Monomoy team for their continued partnership and commitment to collaboration. Ropes & Gray has a leading private fund formation practice, and our asset management practice has more than 300 partners, counsel and associates globally.”
New York City-based Monomoy was founded in 2005 and now has over $5 billion in assets under management.
© 2024 Private Equity Professional | July 10, 2024
