Key Takeaways
- • Monomoy Capital Partners closed its inaugural Monomoy Family Fund at $589 million in total commitments, exceeding its $500 million external hard cap, according to the firm's announcement.
- • The final close came three months after launch, and the fund was reportedly fully allocated within two weeks, backed exclusively by existing limited partners.
- • The GP and affiliates committed $89 million, which the firm describes as nearly 15% of fund capital.
- • Family Fund targets lower-middle-market deals with enterprise values of $200 million and below across family-owned businesses, corporate carve-outs and take-privates in industrial, consumer and services sectors.
- • Monomoy manages over $6 billion in AUM and pairs the new vehicle with its flagship Fund V to address businesses with annual EBITDA of $15 million to $250+ million.
Summary
Monomoy Capital Partners, a New York-based private investment firm focused on private equity and credit in the middle market, announced the final close of its inaugural Monomoy Family Fund, according to a Business Wire release. Total commitments reached $589 million, above the fund's $500 million external hard cap. The close came three months after launch, and the firm said the fund was fully allocated in two weeks.
The fund was raised entirely from Monomoy's existing limited partner base, which includes endowments, foundations, pension plans, insurance companies and family offices. The GP and its affiliates committed $89 million. Co-CEO and Founding Partner Dan Collin said Monomoy and its affiliates committed nearly 15% of fund capital, which he framed as alignment with limited partners.
Family Fund will pursue lower-middle-market transactions with enterprise values of $200 million and below, including family-owned businesses, corporate carve-outs and take-private deals. Collin said the strategy builds on more than two decades of coverage in the segment. Combined with the flagship Monomoy Capital Partners Fund V, the firm said it can serve as buyer of choice for businesses with annual EBITDA between $15 million and $250-plus million. Target sectors are industrial, consumer and services, consistent with the firm's 21-year history.
The fund will draw on Monomoy's in-house Operating Team, which will work with investment professionals and portfolio company management on value creation initiatives. Managing Director and Head of Investor Relations Ashley Johansen credited the fast commitment process to the existing investor base. Paul Hastings LLP served as fund counsel. Monomoy reports over $6 billion in assets under management across its fund family.
The fund was raised entirely from Monomoy's existing limited partner base, which includes endowments, foundations, pension plans, insurance companies and family offices. The GP and its affiliates committed $89 million. Co-CEO and Founding Partner Dan Collin said Monomoy and its affiliates committed nearly 15% of fund capital, which he framed as alignment with limited partners.
Family Fund will pursue lower-middle-market transactions with enterprise values of $200 million and below, including family-owned businesses, corporate carve-outs and take-private deals. Collin said the strategy builds on more than two decades of coverage in the segment. Combined with the flagship Monomoy Capital Partners Fund V, the firm said it can serve as buyer of choice for businesses with annual EBITDA between $15 million and $250-plus million. Target sectors are industrial, consumer and services, consistent with the firm's 21-year history.
The fund will draw on Monomoy's in-house Operating Team, which will work with investment professionals and portfolio company management on value creation initiatives. Managing Director and Head of Investor Relations Ashley Johansen credited the fast commitment process to the existing investor base. Paul Hastings LLP served as fund counsel. Monomoy reports over $6 billion in assets under management across its fund family.
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