MidOcean Partners fifth flagship fund closed at its $1.2 billion hard cap. The target for MidOcean Partners V LP was $1 billion. MidOcean, of New York, invests in the business services and consumer sectors. Kirkland & Ellis LLP advised MidOcean on the fund raise.
MidOcean Partners Raises $1.2 billion for Fund V
New York – October 4, 2018 – MidOcean Partners, a premier middle market private equity firm focused on the business services and consumer sectors, today announced the final close of its latest fund, MidOcean Partners V, L.P. (“Fund V”). Fund V was oversubscribed and closed at its hard cap with $1.2 billion of limited partner commitments, exceeding its $1.0 billion target.
Consistent with MidOcean’s prior funds, Fund V is targeting investments in attractive middle market companies in the consumer and business services sectors. A core tenet of MidOcean’s investment strategy has been to leverage the talent and operating expertise of its Executive Board, which is comprised of senior executives each of whom has a strong record of driving transformational growth in companies across MidOcean’s target sectors.
In 2018, Fund V has successfully completed investments in five portfolio companies including, Florida Food Products and Questex, which were announced in September.
Since its inception in 2003, MidOcean has managed five private equity funds with total capital commitments of over $4.5 billion. MidOcean is grateful for the strong support it received from its existing investor base who participated in Fund V and welcomes many high-quality new limited partners.
Kirkland & Ellis LLP advised MidOcean on the fund raise.
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About MidOcean Partners
Established in 2003, MidOcean Partners is a premier New York-based alternative asset manager that specializes in middle market private equity and alternative credit investments. Since inception, the focus of the private equity funds has been investing in market companies in the consumer and business services sectors. MidOcean Credit Partners was launched in 2009 and manages approximately $8 billion across a series of alternative credit strategies, collateralized loan obligations (CLOs), and customized separately managed accounts as of July 31, 2018. For more information, please visit MidOcean’s website (www.midoceanpartners.com).