Firm: New MainStream Capital
Fund: New MainStream Partners Fund II
Target: $250 mln
Amount raised: About $93 mln
New York and Dallas-based MainStream Capital is taking aim at equity investments from $10 million to $50 million in companies with enterprise values of less than $300 million, with sector focuses on healthcare services, consumer products and services and specialized business services, according to the firm’s website.
Martin Chavez, managing partner and co-founder of the firm, was a managing director in the Merchant Banking unit of Goldman Sachs. Chavez was one of two senior members responsible for originating, investing and managing the group of portfolio companies acquired by New MainStream from Goldman Sachs in 2010.
Co-founder and managing parter Kevin Jordan, also worked as a managing director in the Merchant Banking unit of Goldman Sachs.
New MainStream’s Wyche Walton, a partner at the firm, previously worked as partner and managing director at Dallas-based Haas Wheat & Partners.
Current New MainStream Capital portfolio companies include MCCI Medical Group, H20+, SunCrest Home Health, Marshall Retail Group, Globalnovations and Geoscape.
”We believe that the consistent application of our investment philosophy, while remaining adaptable to the specifics of each investment, has been an essential ingredient in our ability to generate superior investment returns,” the firm said.
Fund-of-funds specialist Pantheon Investors ranks as one of New MainStream’s largest investors, according to its website.
“The firm’s ’center of gravity’ is establishing alliances with senior management of individual companies, and that successful investing can best be achieved by cultivating the complementary strengths of capital partners and management partners,” the firm said.
The Teacher Retirement System of Texas has made a commitment to New Mainstream Partners Fund II as part of its current program of allocating $15 million to $30 million to emerging managers.
Two calls to New MainStream Capital by Buyouts were not returned.