Sentinel closes on $1.3 billion in fifth lower middle market fund
Investment Focus Remains on Building Smaller Companies in Partnership with Management
NEW YORK, July 31, 2013 - Sentinel Capital Partners, a private equity firm that invests in promising, lower middle market companies, today announced the first and final closing of Sentinel Capital Partners V, L.P. at $1.3 billion.
"We are delighted at this fundraising outcome and grateful for the strong show of support from our existing investors and from several new, global investors," said David S. Lobel, founder and managing partner of Sentinel.
Sentinel will continue to focus on the same investment strategy it has employed and refined in previous funds—partnering with talented management teams to acquire companies with up to $35 million in EBITDA and solid businesses fundamentals, in industries where the firm has significant experience. In addition to platform acquisitions, Sentinel will continue to pursue small tuck-in and transformational, like-size add-on acquisitions for its portfolio companies as an important dimension of its investment strategy.
“Over the course of four funds, Sentinel has developed a consistent and reliable way of doing business that has proven appealing to corporate sellers, small business owners, institutional sellers, and management teams," said John F. McCormack, Sentinel's co-founder. "In a good number of businesses we have invested in, our ability and willingness to tackle financial and business complexity and relationship-intensive situations has worked well for us."
Fund V's investors include institutions in the United States, Europe, Japan, China, and Australia, and also include college and university endowments, foundations, state and government retirement systems, corporate pension plans, diversified financial institutions, insurance companies, investment advisors, and Taft Hartley plans. Sentinel's most recent prior fund, Sentinel Capital Partners IV, L.P., initiated investment operations in 2009 with $765 million.
Law firm Kirkland & Ellis LLP represented Sentinel. The Private Fund Group of Credit Suisse Securities (USA) Inc. LLC served in an advisory capacity with respect to the private placement.