New York Life Capital Partners Closes 3rd Fund

Apr 3 2012 | 12:56pm ET

New York Life Capital Partners, a private equity affiliate of New York Life Investments, closed its third mezzanine fund with total commitments of $980 million on March 30, 2012.

The total for the NYLCAP Mezzanine Partners III fund was a 20% improvement over that of its predecessor fund.

"We are very grateful for the show of support we received from investors and are confident that our strategy of investing in the middle market, with longstanding sponsor relationships, will continue to deliver strong results" said Thomas Haubenstricker, CEO of New York Life Capital Partners.

The fund will provide mezzanine financing to private equity groups to support their acquisitions of middle-market companies in the U.S. and Western Europe. To date, the fund has invested $235 million in 10 portfolio companies.

New York Life Capital Partners, with about $8.3 billion in assets under management, raised its first dedicated mezzanine fund in 2002. The existing team has invested $1.9 billion in 90 mezzanine transactions on behalf of the funds.


In Depth

Malik: The Science of Deal Sourcing 201

Aug 27 2015 | 5:35pm ET

Deal sourcing is understandably a hot topic among private equity firms because it...

Lifestyle

Rolling Art Advisors Marketing Collectible Car Fund As Uncorrelated Alternative

Aug 27 2015 | 6:47pm ET

A new fund is trying to provide investors with greater access to an emerging asset...

Guest Contributor

Agecroft Partners: Hedge Fund Industry Assets to increase $250B by Summer 2016

Aug 11 2015 | 11:29am ET

Assets will continue to flow into the hedge fund industry despite long-standing...

 

Editor's Note