Monomoy Capital Partners Closes $280 Million Fund.Oversubscribed Refers to connecting more users to a system than can be fully supported if all of them were using it at the same time. Networks and servers are almost always designed with some amount of oversubscription, counting on the fact that everybody does not need the service simultaneously. Debut Fund Capped at $280 Million NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of -- Monomoy Capital Partners, a private equity firm that makes controlling investments in smaller middle market companies, today announced the final closing of its initial restructuring fund, Monomoy Capital Partners, L.P. ("Monomoy" or the "Fund"), at $280 million. Monomoy substantially exceeded its fundraising target of $200 million, and the Fund was oversubscribed at the final closing. Monomoy secured capital commitments from a wide range of global institutional investors, insurance companies, asset managers and best-in-class funds of funds. The Fund's limited partners include Drum Capital, Bear Stearns The Bear Stearns Companies, Inc. (NYSE: BSC) is the parent company of Bear, Stearns & Co. Inc., one of the largest global investment banks and securities trading and brokerage firms in the world. Asset Management, Horizon 21 (formerly Swiss Re Swiss Re is the world’s largest reinsurer, now that it has acquired GE Insurance Solutions (Ligi 2006). Founded in 1863, Swiss Re now operates in more than 30 countries. General Electric owns 8.9% of the firm. ), Oppenheimer & Co., St. Paul-Travelers, and Morgan Creek Capital. Approximately 70% of Monomoy's investors are based in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. ; the remaining commitments came from European and other international institutions. "We are extremely gratified grat·i·fy tr.v. grat·i·fied, grat·i·fy·ing, grat·i·fies 1. To please or satisfy: His achievement gratified his father. See Synonyms at please. 2. by the support we have received throughout the fundraising process," said Stephen Presser, a Monomoy principal. "Our investors have become true partners in our business over the past 12 months, and we are committed to rewarding their confidence with top-tier private equity returns." Monomoy was founded in 2005 by Stephen Presser, Daniel Collin, Justin Hillenbrand and Philip Von Burg to make controlling investments in smaller companies that require operational or financial restructuring. The Fund targets fundamentally sound businesses that can be acquired through complex transactions, restructured to improve cash flow without growing revenues and sold as healthy middle market companies to financial or strategic buyers. Monomoy has invested approximately $60 million in seven acquisitions over the past 18 months and currently owns six portfolio companies, including Awrey Bakery, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , a $75 million commercial bakery acquired out of Chapter 11 in August of 2005, Barjan LLC, a $145 million retail distributor to travel centers acquired thorough an Article 9 foreclosure foreclosure Legal proceeding by which a borrower's rights to a mortgaged property may be extinguished if the borrower fails to live up to the obligations agreed to in the loan contract. in January of 2006 and Castings Technology Corporation, a $35 million auto parts Auto parts are components of automobiles. They mainly are, in alphabetic order (only car specific articles or articles with car section):
"We are excited about our investment with Monomoy," said Gijs van Thiel of 747 Capital, a Monomoy investor. "The Monomoy team is among the best we have seen in the small-cap special situations space. They have demonstrated an exceptional ability to execute complex transactions, improve businesses and create value in an underserved market." MVision Private Equity Advisors, through Hussein Khalifa and Jennifer Rinehart, acted as global placement agents for Monomoy. "MVision made a huge difference in our fundraise fund·raise or fund-raise also fund raise intr.v. fund·raised, fund·rais·ing, fund·rais·es To engage in fundraising. Verb 1. ," said Mr. Presser. "They introduced us to a strong network of private equity investors in both North America and Europe that enabled us to raise a first time fund in a crowded market. Together with MVision, we have built an institutional investor base that will support a growing Monomoy franchise for many years." Bruce Ettleson, Michael Belsley, and John Muno of Kirkland & Ellis LLP LLP - Lower Layer Protocol served as legal counsel to the Fund. About Monomoy Capital Partners, L.P. Monomoy Capital Partners, L.P. is a private equity group founded in March 2005 to make controlling investments in smaller middle market companies under financial, operational or ownership change. Monomoy has completed seven acquisitions over the past 18 months and currently owns six portfolio companies: Awrey Bakeries, LLC, Hess Industries, Inc., Barjan LLC, Castings Technologies Corp., Rossborough Supply Company and Western Recreational Vehicles, Inc. For additional information on Monomoy and its portfolio, please visit www.mcpfunds.com. About MVision Private Equity Advisors MVision is the leading independent international private equity placement agent and, with 30 professionals operating out of London, New York and Asia, is now one of the largest specialty finance teams in the world. Over the course of their careers, the principals of MVision have closed over 200 private equity funds, invested in over 80 private equity vehicles and executed over 70 direct investments. For additional information on MVision, please visit www.mvision.com. |
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