Tenex Raises $452M For Debut Private Equity Fund

Aug 5 2011 | 8:20am ET

New York-based Tenex Capital Management has raised $452 million for a private equity fund that will invest in mid-market companies experiencing significant changes in their markets, operations or capital structure.

The firm exceeded its $400 million fundraising target for the Tenex Capital Partners fund, as well as the fund's $425 million “hard cap,” raising money from public and private sector pension funds, endowments and foundations, family offices, financial institutions and insurance companies.

“We are extremely pleased to have such a prominent and high quality group of limited partners committed to the fund and we are delighted with their support,” said Michael Green, CEO and managing director of Tenex. "The Tenex investment philosophy, coupled with the current state of markets in North America, present a significant opportunity for us to provide capital appreciation to our partners for years to come." 

Tenex, founded by Michael Green, Varun Bedi, JP Bretl, Joe Cottone, and Chad Spooner, targets companies with $75 to $300 million in annual revenues in the transportation, industrials, manufacturing, telecommunications, and health and business services sectors. 

Atlantic-Pacific Capital served as the placement agent for the fundraising and Debevoise and Plimpton acted as legal counsel.  


In Depth

Royalties: The Alternative Assets of the Music Industry

Jul 8 2016 | 7:01pm ET

Recent market volatility has investors seeking greater insight into alternative...

Lifestyle

Vortic: Making Great American Watches Again

Jul 25 2016 | 6:29pm ET

If you are compelled by stories of entrepreneurial vision & drive, or simply...

Guest Contributor

MPI: Like Stellar Returns? Better Understand the Risks First

Jul 22 2016 | 8:44pm ET

When the press reports extraordinarily strong relative or risk-adjusted returns...