Morgan Stanley Capital Partners
| 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 |
| Parent | Citigroup Alternative Investments (since 2007) |
Metalmark Capital, previously known as Morgan Stanley Capital Partners, operates as a private equity firm with a focus on leveraged buyout transactions involving middle-market companies spanning multiple sectors. The firm, which is based in New York City, was acquired by Citigroup Alternative Investments in December 2007. Its foundation dates back to 1985, and it became an independent organization in 2004. Since its establishment, Metalmark has successfully raised nearly $8.5 billion through four funds under Morgan Stanley and one fund following its spinout.
History
From 1985 until 2004, Morgan Stanley Capital Partners deployed over $7 billion via four distinct funds. The first fund, Morgan Stanley Leveraged Equity Fund I, was initiated in 1985, succeeded by Fund II in 1987 with commitments totaling $2.2 billion. Fund III raised $1.87 billion in 1991, and Fund IV closed in 1999 with $3.3 billion in capital commitments.
In 2004, the team behind Morgan Stanley Capital Partners began the process of separating from Morgan Stanley, a move that paralleled similar spinouts from other major investment banks such as 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 under the direction of CEO Vikram Pandit, aiming to broaden the firm's merchant banking and hedge fund capabilities. Subsequent to this transaction, Citigroup sold off its remaining stake in Court Square Capital Partners, which had separated from Citigroup in 2006.
External links
- Metalmark Capital (official 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