NEW YORK – April 4, 2023 — MidOcean Partners (“MidOcean”), a premier New York-based alternative asset manager specializing in middle-market private equity and alternative credit investments, today announced the successful close of its most recent private equity fund, MidOcean Partners VI, LP (“Fund VI”), with over $1.5 billion in capital commitments, making it MidOcean’s largest fund since inception. Fund VI, which exceeded its target and is 25% larger than its predecessor fund, received significant support from existing investors and welcomed a range of new institutional limited partners globally.
Fund VI builds upon MidOcean’s more than 20-year track record of sourcing and executing investments in attractive, high-quality, middle market companies. Consistent with the firm’s investment strategy, Fund VI will seek to capitalize on MidOcean’s theme-driven investment approach, robust sourcing efforts, and differentiated operating executive model to bring transformative growth to its portfolio of consumer and business services-focused companies. To date, MidOcean has deployed 15% of Fund VI’s capital across two investments.
Ted Virtue, Founder and Chief Executive Officer of MidOcean Partners, said, “We are grateful for the strong support we received for Fund VI from both new and existing investors, and thank them for putting their trust in MidOcean. Given our proven investment approach and deep bench of talent – both internally and across our dedicated group of highly engaged operating partners – we are confident we can generate risk-adjusted returns, even amid volatile market conditions.”
Erik Oken, MidOcean’s Chairman of Private Equity, added, “Our methodical, theme-driven approach has enabled us to generate a strong pipeline of attractive investment opportunities. We will continue to prudently deploy capital into our targeted sub-sectors with an eye on delivering transformative results across our portfolio.”
The close of Fund VI follows the close of MidOcean Partners V, LP, a $1.2 billion fund. Since inception, MidOcean has invested in over 50 platform companies in the consumer and business services sectors, as well as over 140 accretive add-on acquisitions.