New York and Hong Kong-based Cornell Capital has raised $1.325 billion for its debut multi-asset private equity fund. The firm, which was founded in 2013 by Henry Cornell, the former vice chairman of Goldman Sachs‘ merchant banking division, invests in the consumer, energy, financial and industrial sectors.
NEW YORK, June 21, 2018 /PRNewswire/ — Cornell Capital LLC (“Cornell Capital” or the “Firm”), a private investment firm based in New York and Hong Kong, today announced that it has closed its inaugural multi-asset private equity fund, Cornell Capital Partners LP (the “Fund”), with aggregate capital commitments of $1.325 billion from a select group of global investment partners. This closing brings Cornell Capital’s total assets under management to over $2.2 billion, including co-investments and single asset funds.
Founded in 2013 by Henry Cornell, the former Vice Chairman of Goldman Sachs’ Merchant Banking Division, Cornell Capital invests in market-leading companies across the consumer, energy, financial and industrial sectors. The Firm employs 19 professionals, including a highly-experienced senior leadership team with decades of shared history investing across a variety of structures and geographies. The Firm is committed to identifying and partnering with strong management teams and investment partners to take a comprehensive and creative approach to the financial, operational, organic and M&A growth drivers of each investment.
Leveraging substantial on-the-ground experience in both North America and Asia, the team also generates value by creating cross-border opportunities and bolstering portfolio companies in new and existing markets.
The Fund has already deployed a third of its capital across three attractive opportunities in the consumer, energy and financial sectors. In May 2017, Cornell Capital made the Fund’s first investment in Corelle Brands (formerly known as World Kitchen), a leading American manufacturer and marketer of such iconic houseware brands as Pyrex, Snapware and Corelle. In January 2018, the Fund invested in Monolith Materials, an innovative manufacturer of carbon black, a ubiquitous material found in a wide range of industrial products. Most recently in May 2018, the Firm led an investor consortium in the $2.05 billion acquisition of Talcott Resolution, The Hartford’s run-off life and annuity businesses.
“We greatly appreciate the strong support from our new and existing investment partners, which is a testament to the seasoned team we have assembled as well as the opportunities ahead,” said Mr. Cornell. “I look forward to working alongside my partners to leverage our cross-border relationships and operational expertise to generate long-term value through our proven, disciplined approach.”
About Cornell Capital
Cornell Capital LLC is a private investment firm that takes a value-driven approach to investing. Partnering with strong and entrepreneurial management teams, the firm seeks opportunities in market-leading businesses across the consumer, energy, financial and industrial sectors. Founder and Senior Partner Henry Cornell, who served as the Vice Chairman of Goldman Sachs’ Merchant Banking Division prior to founding Cornell Capital in 2013, leads a staff of 19 professionals, including a highly-seasoned senior leadership team with decades of shared investing experience. The firm currently manages over $2.2 billion of assets and has offices in New York and Hong Kong. For more information, visit www.cornellcapllc.com.