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Laxman Pai, Opalesque Asia: New York-based Tenex Capital Management (TCM) has announced the final closing of Tenex Capital Partners IV(Fund IV) at $1.9 billion, hitting its Limited Partner hard cap of $1.9 billion.
The firm's predecessor fund, Fund III, closed in 2021 at its hard cap of $1.2 billion, according to a media release from the private equity firm led by experienced hybrid operator-investors.
Tenex secured limited partner commitments from a diverse investor base of leading endowments, foundations, public and corporate pension plans, family offices, insurance companies, and global financial institutions.
Tenex also expanded its geographic footprint securing limited partner commitments from the US, South America, Europe, the Middle East, and Asia.
"We are thrilled to announce the closing of Fund IV. We are extremely appreciative to have earned the trust and loyalty of our existing investors over the years - we look forward to expanding our relationships with many new investors throughout Fund IV," said Mike Green, CEO of TCM that invests in small/midmarket buyouts.
"I would also like to thank the entire Tenex team for their hard work and dedication to delivering such strong results for our investors to date, including my co-founders and lead partners Varun Bedi, Joe Cottone, Ron Lejman, Perrin Monroe, and Gabe Wood. Their dedication to maintaining Tenex's reputation as a leading operationally centric firm is unparalleled," Mike added.
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