New Capital Partners hits $232 mln hard cap on Fund III

New Capital Partners has closed its third fund, New Capital Partners Private Equity Fund III, on the $232 million hard cap. Fund III beat its $200 million original target. The Birmingham, Alabama-based firm launched fundraising in March, 2014. Lazard worked as placement agent on the fundraising.

Press Release

New Capital Partners (“NCP”), private equity firm headquartered in Birmingham, Alabama, announced today the final closing of its third private equity fund, New Capital Partners Private Equity Fund III L.P., totaling $232 million.

The fund was significantly oversubscribed, surpassing its $200 million target and reaching its fundraising hard cap. The fundraising for New Capital Partners III formally launched in March 2014.

New Capital Partners invests in private companies in the lower middle market primarily focusing on healthcare services and IT, financial services and IT and general business services. The fund primarily invests in the Southeast and Texas and focuses on both growth equity and small buy-out opportunities.

New Capital Partners’ founders and managing partners, James Outland and Jim Little, have worked together for more than 20 years and are joined by principals, Adam Cranford, Seton Marshall and Paul Pless. The private equity fund is a continuation of the firm’s focus on building great companies in partnership with exceptional management teams.

“We are pleased to announce the closing of New Capital Partners Private Equity Fund III and we are honored that our investors have continued to support our efforts and we look forward to working hard to build great companies and earn their confidence in investment strategy” said James Outland, NCP Co-Founder and Managing Partner of New Capital

Since 2001, the firm has made more than 25 investments, representing $150 million of invested capital, with a strategy to find companies in niche industries with organic growth opportunity. New Capital Partners’ previously exited investments have included: Awarix, which was sold to McKesson (NYSE: MCK), HospiScript, which was sold to Catamaran (NASDAQ: CTRX), and Senior Whole Health, which was sold to TA Associates.

In addition, current portfolio companies include, Cogent Partners, TelaDoc, Hospice Partners, and Medsurant Monitoring.

Proskauer Rose LLP is NPC’s fund counsel and was legal advisor during fundraising, while Lazard served as placement adviser.

About New Capital Partners:
New Capital Partners is a private equity firm with offices in Birmingham, AL and Dallas,
TX. NCP focuses on investing in high-growth companies primarily in the Southeastern
United States and Texas. Through their extensive entrepreneurial and operational experience they have created and realized significant value in dozens of companies.

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