Mill Point Capital, a New York City-based private equity firm, announced the final closing of Mill Point Capital Partners III, L.P. And with about $1.7 billion of total capital commitments closed in less than five months from launch, Fund III, consistent with its predecessor funds, was oversubscribed and closed at the hard cap.
Mill Point targets value-oriented, control investments in lower middle-market companies in North America’s Business Services, Industrials, and IT Services sectors.
Fund III has received broad support from a diverse group of global investors, including prominent endowments, foundations, government and corporate pension plans, insurance companies, family offices, and funds of funds. Fund III was also fully allocated at the hard cap in less than one month from its initial launch, demonstrating the extraordinary demand from limited partners.
Asante Capital Group Advisors served as Mill Point’s exclusive global placement agent, and Kirkland & Ellis LLP provided legal counsel.
KEY QUOTES:
“We are grateful for both the unwavering support from our existing investors and the overwhelming interest from new limited partners, particularly given the challenging fundraising market. We believe our operationally-intensive strategy, supported by our integrated approach across the Mill Point investment team, Executive Partners, Functional Experts and portfolio company management, has driven value creation and successful realizations, both of which resonated with investors.”
-Michael Duran, Founder & Managing Partner of Mill Point
“We have adhered to our resilient investment strategy while cultivating a team that is talented, collaborative and focused. With the successful closing of Fund III, we are eager to partner with lower middle-market businesses and execute transformative strategic initiatives and operational improvements to create lasting value.”
-Dustin Smith, Managing Partner of Mill Point
