New PE Fund Alert: Gotham Private Equity Partners

Gotham Private Equity Partners has launched as a New York-based private equity firm focused on the middle and lower middle-markets. Equity checks of between $10 million and $50 million per investment, in exchange for a control position (with some growth equity exceptions).

The core quartet is one we last discussed in early 2007, when they bolted Trimaran Capital Partners to work for Columbus Nova. Before that, they had worked together in the leveraged finance group of CIBC.

I spoke yesterday with managing principal Steven Flyer, who didn’t really explain the departure from Columbus Nova, except to say that it was to take advantage of the opportunity to hang their own shingle in the midst of a market dislocation. The Gotham team will not continue to manage investments made while with Columbus Nova.

Gotham does not plan to raise a traditional fund. Instead, its deals will be financed by a group of high-net-worth individuals and families who helped launch Gotham by acquiring a minority ownership position. The firm is already looking hard at a couple of deals, and expects its first transaction to close in Q1 or Q2 of next year.