M/C Partners said April 8 that its latest fund closed on its $350 million hard cap. M/C focuses on companies in the growth infrastructure and services segments of the $1 trillion telecommunications and information technology industries. Monument Group Inc served as placement agent for Fund VIII, while Latham & Watkins LLP provided legal counsel.
M/C Partners Closes Fund VIII at Hard Cap of $350 Million
Boston, MA, April 08, 2019 – M/C Partners (“M/C”), a leading private equity firm, announced today the final closing of its most recent fund. M/C Partners VIII, L.P. (“Fund VIII”) was oversubscribed closing at its hard cap of $350 million.
M/C’s specialized investment strategy remains focused on investing in targeted high growth infrastructure and services segments of the $1 trillion Telecommunications and Information Technology industries. Led by Managing Partners Jim Wade, Gillis Cashman and Brian Clark, the team’s experience spans multiple economic cycles where they employ a flexible model investing in businesses in all stages from early formation, growth capital, consolidations, mature carve-outs and distressed acquisitions. M/C proactively seeks out well-positioned entrepreneurial managers and companies through a thesis driven approach to be a lead investor that typically invests $10 to $50 million of equity.
“We are very pleased to announce the final closing of Fund VIII. We greatly appreciate the confidence and trust of our investors,” said Jim Wade, Managing Partner of M/C. “This successful fundraising highlights our investors’ enthusiasm for the strength of our team, our differentiated investment strategy and the compelling market opportunity.”
Gillis Cashman, Managing Partner, remarked that “it is an opportune time to be at the forefront of identifying emerging trends within our core industries and to partner with highly capable management teams.” Brian Clark, Managing Partner, commented that “the entire M/C team is excited to apply our long-term experience and network of relationships to attract top talent and serve as supportive, value-added partners helping to grow our portfolio companies organically and through acquisitions.”
John McCormick, Managing Director at Monument Group, added, “M/C Partners is one of the most experienced and preeminent investors in the broader IT/ Communications space and we were privileged to assist them on this successful fundraise.”
Monument Group, Inc. served as placement agent for Fund VIII, while Latham & Watkins LLP provided legal counsel.
About M/C Partners
Based in Boston, Massachusetts, M/C Partners is a private equity firm focused exclusively on the communications and information technology sectors. The firm has invested over $2.2 billion of capital into nearly 100 companies, generally investing in companies with enterprise values of $25 million to $250 million. Related current and prior investments include Zayo, Lightower, Ensono, Everstream, Denovo, Neutral Connect Networks, Thrive, Involta, ICG Communications, MetroPCS, Fusepoint and NuVox. The firm has strong institutional backing as well as a long track record of success. For more information, visit www.mcpartners.com.
About Monument Group
Monument Group is a leading, independent global private fund placement agent with offices in Boston, London, Hong Kong and Tokyo. Since its inception in 1994, Monument Group has assisted a range of general partners around the world to raise funds totaling over $100 billion of equity. Monument Group’s clients represent a broad range of investment strategies including buyouts, debt, distressed, energy and natural resources, growth, infrastructure, venture and real estate.
Monument Group, Inc., is a member of the Financial Industry Regulatory Authority (FINRA); Monument Group Europe LLP is authorized and regulated by the Financial Conduct Authority; Monument Group, L.P. is licensed as a Type II Financial Instruments Dealer in Japan; Monument Group (HK) Limited is licensed to conduct Type 1 regulated activities in Hong Kong. For more information, visit www.monumentgroup.com.