New State Capital Partners announced that it has closed on $700 million for its Fund IV, which was oversubscribed, above its target, and raised in less than six months. And since its founding, New State has raised $1.8 billion.
Fund IV brought in a diverse investor base, including endowments and foundations, family offices, public pension plans, insurance companies, OCIOs, and high-net-worth individuals across North America and Europe. New State professionals committed $60 million via the general partner, seeking to drive alignment between the firm and its limited partners.
New State has completed 45+ acquisitions to date. And the firm utilizes a differentiated sourcing model, including strong relationships with the independent sponsor community, designed to identify attractive investment opportunities. The depth and breadth of New State’s team ensures hands-on support to drive portfolio company growth.
New State’s 34-person team includes 12 management company partners and a dedicated 10-person in-house operations team, providing deep experience and operational knowledge. And the firm recently added to its capabilities with three strategic hires: a Vice President on the Investment Team, a Senior Principal focused on strategy, and an Operating Partner specializing in revenue growth, further enhancing its ability to support portfolio companies and drive value creation.
Kirkland & Ellis served as fund counsel, and Harris Williams Private Capital Advisory Ltd. served as placement agent.
KEY QUOTE:
“This milestone underscores the trust investors have in our strategy and our platform. We are focused on investing in, and scaling, high-quality, founder-led businesses. We are excited to deploy Fund IV while continuing our disciplined approach to value creation.”
– David Blechman, Founder of New State
