Vestar Capital Partners, a middle-market private equity firm, said on Monday that it has named Norman W. Alpert and Robert L. Rosner as co-presidents, effective immediately. Both Alpert and Rosner are managing directors and founding partners at Vestar. Also, Vestar has closed its sixth private equity fund, Vestar Capital Partners VI, with commitments of $804 million.
NEW YORK, NY – July 1, 2013 – Vestar Capital Partners (“Vestar”), a leading U.S. middle-market private equity firm, today announced that Norman W. Alpert and Robert L. Rosner have been named co-presidents of the Firm, effective immediately.
“I am pleased to continue to recognize Norm’s and Rob’s valuable contributions to the Firm, as original Vestar co-founders and as strong leaders over many years,” said Dan O’Connell, CEO of Vestar. “Most recently, they played key roles in the execution of our realization initiative, which returned in excess of $2.4 billion to our partners.
“Since the Firm’s founding in 1988, Vestar has raised in excess of $9 billion of capital and completed 70 investments in companies with a total value of more than $40 billion,” said Mr. O’Connell. “I look forward to continuing to work closely with Norm and Rob as we identify opportunities for our most recent fund, Vestar VI, and continue to build value in our existing portfolio of companies.”
Vestar also confirmed today that it has closed and activated its sixth private equity fund, Vestar Capital Partners VI, with total commitments of $804 million.
“We see exceptional opportunities in our sweet spot, the North American middle market, and Vestar VI has ample firepower to capture these attractive investments,” said Mr. O’Connell. “Our Limited Partners concur with this strategy and are supportive of our decision to close Vestar VI and move forward.”
Mr. O’Connell said that Vestar VI is targeting equity investments in the range of $50 million to $150 million in U.S.-based middle-market companies with enterprise values ranging from $250 million to $750 million. “Over the past 25 years, we have built a reputation as an strong partner with company management teams. We are confident that our deep experience in creating value will continue to deliver the superior returns that are this Firm’s hallmark,” he said.
“Vestar’s organization is exceptionally deep in talent and experience. Confidence in our new fund is very strong. We’re quite bullish on the current outlook,” said Mr. Rosner.
“Our Firm has evolved to take advantage of unique and compelling investment opportunities in the middle market. Our experienced team of investment professionals and our performance track record provide Vestar with a convincing competitive advantage,” said Mr. Alpert.
Norman W. Alpert
Mr. Alpert, 54, is a managing director and one of the founding partners of Vestar Capital. He is a member of Vestar’s Executive and Investment Committees and is actively involved across many of Vestar’s industry sectors.
Mr. Alpert will continue as co-head of Vestar’s Healthcare/Digital Media/Information Services Sectors. He is currently a director of HealthGrades, MediMedia USA, Inc., St John Knits, Inc., and Press Ganey Associates, Inc.
Mr. Alpert began his career in 1980 as a commercial banker at Manufacturers Hanover Trust Company as a member of the Special Finance Division. He joined the Management Buyout Group at The First Boston Corporation in 1984, before leaving in 1988 to launch Vestar Capital Partners. He is a 1980 graduate of Brown University with an AB degree in American History and Economics.
Mr. Alpert serves on the boards of Brown University, The Brown Hillel Foundation, the Brown University Sports Foundation, the National Rowing Foundation, American Friends of Shalva (the association for mentally and physically challenged children in Israel), and White Plains Hospital.
Robert L. Rosner
Mr. Rosner, 53, is a managing director and one of the founding partners of Vestar Capital. He is a member of Vestar’s Executive and Investment Committees. Before returning to Vestar’s New York office in 2011, Mr. Rosner ran Vestar’s highly successful European operations for more than a decade. During that time, Vestar invested $1.2 billion in nine companies. Those investments, now fully realized, returned $2.1 billion – a 1.7x realized cash MOI – to Limited Partners.
Mr. Rosner will continue as co-head of Vestar’s Diversified Industries/Financial Services Sectors. He is currently a director of Triton Container International Limited, Radiation Therapy Services, Inc. and OGF Group.
Mr. Rosner was previously a member of the Management Buyout Group of The First Boston Corporation, where he worked with the other members of Vestar’s founding team before leaving in 1988 to launch Vestar Capital Partners. He holds an MBA, with distinction, from The Wharton School of the University of Pennsylvania and a BA in Economics from Trinity College.
Mr. Rosner is a member of the Graduate Executive Board of The Wharton School and the Board of Trustees of The Lawrenceville School.
About Vestar Capital Partners
Vestar Capital Partners is a leading U.S. middle-market private equity firm specializing in management buyouts and growth capital investments. The Firm is targeting equity investments in the range of $50 million to $150 million in U.S.-based middle-market companies with enterprise values ranging from $250 million to $750 million.
The Firm has extensive experience investing across a wide variety of industries including Consumer, Healthcare, Digital Media, Information Services, Diversified Industries, and Financial Services. Vestar invests and collaborates with incumbent management teams and private owners in a creative, flexible and entrepreneurial way to build long-term enterprise value.
Since the Firm’s founding in 1988, the Vestar funds have completed 70 investments in companies with a total value of more than $40 billion. For more information, please visit www.vestarcapital.com