Norwest Capital Advisors announced that the firm has closed Norwest Equity Partners XI, LP and Norwest Mezzanine Partners V, LP with approximately $1 billion and $400 million of committed capital, respectively.
The firm also welcomes several large institutional investors as limited partners in the Funds, demonstrating strong support for the firm’s market-tested strategies in middle market buyouts and mezzanine.
Norwest’s team is actively deploying both funds. For example, Norwest Equity Partners XI has completed three investments – each consistent with its operationally focused strategy of helping good businesses become market leaders in their sectors. And Norwest Mezzanine Partners V completed one investment, continuing its focus on delivering creative transaction solutions to support the long-term growth of companies backed by financial sponsors.
Kirkland & Ellis LLP acted as legal counsel, and Lazard acted as exclusive placement agent for the two funds.
KEY QUOTES:
“We are grateful to our new limited partners for their trust in Norwest Capital. With these new funds, we aim to build on our multi-decade track record and continue applying our long-term, sustainable mindset to enable the growth of industry leaders.”
– Partner and Chief Operating Officer Brian Allingham
“We’re pleased to see this demand for our thoughtful and partnership-driven approach across our two distinct investment platforms and strategies. We look forward to continuing to deliver on our Firm’s established reputation as a leader in middle market investing.”
– Managing Partner Tim DeVries
