New York Life Capital Partners Closes $980M Fund

New York Life Capital Partners, a private equity affiliate of New York Life Investments, has closed its third third mezzanine fund with $980 million. The fund, NYLCAP Mezzanine Partners III, L.P., held a final close on March 30. The fund will provide mezzanine financing to support their acquisition of middle-market companies in the U.S. and Western Europe. To date, the fund has invested $235 million in 10 portfolio companies.

PRESS RELEASE

New York Life Capital Partners, a private equity affiliate of New York Life Investments, today announced the successful closing of its third mezzanine fund.  NYLCAP Mezzanine Partners III, LP (the “Fund”) held its final close on March 30, 2012, with total commitments of $980 million, more than a 20 percent increase than its predecessor fund[i].

 

“We are very grateful for the show of support we received from investors and are confident that our strategy of investing in the middle market, with longstanding sponsor relationships, will continue to deliver strong results” said Thomas Haubenstricker, CEO of New York Life Capital Partners.

 

The Fund will maintain its consistent strategy of partnering with successful private equity groups by providing mezzanine financing to support their acquisition of middle market companies in the U.S. and Western Europe. To date, the Fund has invested $235 million in 10 portfolio companies.

 

The Fund’s global investor base is represented by public and private pension funds, financial institutions, insurance companies, family offices, select individuals and sovereign pools of capital. “Historically, investors in this asset class have been large financial institutions and insurance companies, however in this fundraising effort, we have seen an increased interest among new types of investors seeking attractive yields and consistent downside protection,” said Haubenstricker.

 

New York Life Capital Partners raised its first dedicated mezzanine fund in 2002, and the existing team has invested $1.9 billion in 90 mezzanine transactions on behalf of the funds.

 

About New York Life Capital Partners

New York Life Capital Partners manages approximately $8.3 billion of private equity assets, including co-investment, mezzanine, and fund advisory programs.  As an affiliate of New York Life Investments, New York Life Capital Partners manages alternative assets for New York Life Insurance Company, its affiliates and other institutional investors.