Mill Point Capital Raises $1.7 Billion in Oversubscribed Fund III

Audio By Carbonatix

NEW YORK--(BUSINESS WIRE)--Oct 10, 2024--

Mill Point Capital LLC (“Mill Point”), a New York City-based private equity firm, announced today the final close of Mill Point Capital Partners III, L.P. (“Fund III”). With approximately $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 across the Business Services, Industrials and IT Services sectors throughout North America.

Fund III 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 fully allocated at the hard cap in less than one month from its initial launch, demonstrating the extraordinary demand from limited partners.

“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,” commented 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,” added Dustin Smith, Managing Partner of Mill Point.

Asante Capital Group Advisors LLC served as exclusive global placement agent and Kirkland & Ellis LLP served as legal counsel to Mill Point.

About Mill Point Capital LLC

Mill Point Capital LLC is a private equity firm focused on control investments in lower-middle market companies across the Business Services, Industrials and IT Services sectors throughout North America. Mill Point’s experienced team of investors, Executive Partners and Functional Experts seek portfolio company value enhancement through rigorous implementation of transformative strategic initiatives and operational improvements. Mill Point is based in New York, NY. For more information, please visit www.millpoint.com.

View source version on businesswire.com:https://www.businesswire.com/news/home/20241010364406/en/

CONTACT: Jiaeh Kim

[email protected]

212-416-5800

KEYWORD: NEW YORK UNITED STATES NORTH AMERICA

INDUSTRY KEYWORD: ASSET MANAGEMENT PROFESSIONAL SERVICES BUSINESS FINANCE

SOURCE: Mill Point Capital LLC

Copyright Business Wire 2024.

PUB: 10/10/2024 03:01 PM/DISC: 10/10/2024 03:02 PM

http://www.businesswire.com/news/home/20241010364406/en