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Alternative Market Briefing

New State Capital Partners quickly raises $450m for third institutional investment fund

Tuesday, May 04, 2021

Laxman Pai, Opalesque Asia:

US-based private investment firm New State Capital Partners announced that the firm has closed its third institutional investment fund, New State Capital Partners Fund III with $450 million in committed capital.

The Fund was oversubscribed and closed on schedule at its hard cap in about four months after the official launch, said a press release from the entrepreneurial-minded private equity firm.

Fund III was supported by a diverse and global group of public and private pension funds, consultants, endowments, foundations, funds of funds, and family offices.

"We are grateful to our existing and new investors for their strong interest in the New State Capital Partners team," said David Blechman, Founder and Senior Principal of New State. "We have plenty of capacity to pursue our core strategy: investing in great middle-market companies, thinking like entrepreneurs, backing independent sponsors, and showing up with resources for our partners."

With Fund III, New State can invest up to $100 million in equity per transaction. The firm targets investments in the business services, industrials, and consumer sectors. Since its founding in 2013, New State has invested in 27 companies including 14 platform investments.

Recent investments include Mako, the premier provider of solutions to the self-storage industry; Klein Hersh, the country's leading executive search firm focused exclusively on the life sciences and healthcare......................

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