Metalmark Capital
| Company type | Private |
|---|---|
| Industry | Private equity |
| Predecessor | Morgan Stanley Capital Partners |
| Founded | 1985 |
| Fate | Acquired by Citigroup Alternative Investments in December 2007 |
| Headquarters | New York City , United States |
| Products | Leveraged buyout transactions in middle-market companies |
| Parent | Citigroup Alternative Investments (since December 2007) |
Metalmark Capital, previously known as Morgan Stanley Capital Partners, operates as a private equity firm with a focus on leveraged buyout transactions within middle-market companies spanning diverse sectors. The firm, which became part of Citigroup Alternative Investments in December 2007, is based in New York City. Established in 1985 and later spun off as an independent entity in 2004, Metalmark has accumulated close to $8.5 billion through four Morgan Stanley-managed funds and one fund raised after the spinout.
History
Between 1985 and 2004, Morgan Stanley Capital Partners deployed over $7 billion through four distinct funds. The inaugural fund, Morgan Stanley Leveraged Equity Fund I, was launched in 1985, followed by Fund II in 1987 with commitments totaling $2.2 billion. Fund III closed in 1991 with $1.87 billion raised, while Fund IV secured $3.3 billion in commitments by 1999.
In 2004, the team behind Morgan Stanley Capital Partners initiated a separation from Morgan Stanley, aligning with a broader trend of private equity units spinning out from major banking institutions like JPMorgan Chase (CCMP Capital), Citigroup (Court Square Capital Partners), Deutsche Bank (MidOcean Partners), and Credit Suisse First Boston (Avista Capital Partners, Diamond Castle Holdings).
The acquisition of Metalmark by Citigroup Alternative Investments occurred in December 2007, reflecting CEO Vikram Pandit's initiative to grow the merchant banking and hedge fund divisions. Prior to this, Citigroup had divested its middle market private equity division, CVC Equity Partners, which rebranded as Court Square Capital Partners. Subsequent to acquiring Metalmark, Citigroup fully exited its stake in Court Square.
External links
- Metalmark Capital (company website)
- Articles with short description
- American companies established in 1985
- Hedge fund firms in New York City
- Investment companies based in New York City
- Private equity firms of the United States
- Financial services companies established in 1985
- 1985 establishments in New York (state)
- Morgan Stanley
- American corporate subsidiaries