Fenway Partners is a private equity

Private equity

Private equity, in finance, is an asset class consisting of equity securities in operating companies that are not publicly traded on a stock exchange....

 firm that makes leveraged buyout

Leveraged buyout

A leveraged buyout occurs when an investor, typically financial sponsor, acquires a controlling interest in a company's equity and where a significant percentage of the purchase price is financed through leverage...

 and growth capital

Growth capital

Growth capital is a type of private equity investment, most often a minority investment, in relatively mature companies that are looking for capital to expand or restructure operations, enter new markets or finance a significant acquisition without a change of control of the business.Companies...

 investments in transportation, logistics, consumer products and manufacturing companies in the middle market.

The firm was founded in 1994 by Richard Dresdale (formerly Clayton, Dubilier & Rice) and Peter Lamm (formerly Butler Capital Partners

Butler Capital Partners

Butler Capital Partners is a European private equity focusing primarily on investments in France and Europe. The firm operates in a variety of business sectors including distribution, logistics, advertising, information technology, publishing and market research.The firm was founded in 1990 by...

) and has over $2 billion of capital under management. Since inception, the firm has raised three private equity funds. Fenway's first fund, closed on approximately $525 million of capital commitments in 1996 and just two years later, in 1998, the firm raised an additional $900 million of capital. As a result of several investments made in the 1998 fund, prior to the collapse of the dot-com bubble

Dot-com bubble

The dot-com bubble was a speculative bubble covering roughly 1995–2000 during which stock markets in industrialized nations saw their equity value rise rapidly from growth in the more...

, performance in that fund was affected. Nevertheless, the firm was able to raise a successor fund in 2006 and 2007 with approximately $700 million of commitments from institutional investors.

Investments

Among the firms most notable investments are Targus

Targus (corporation)

The Targus Corporation is a United States-based manufacturer of accessories mostly related to mobile computing and photography.-Offices:The company has 45 offices worldwide and distribution points in 145 counties. It is headquartered in Anaheim, California, USA...

, 1-800 Contacts

1-800 Contacts

1-800 CONTACTS is a privately held company based in Draper, Utah that sells various brands of contact lenses, including Johnson & Johnson Vision Care, Ciba Vision, Bausch & Lomb and CooperVision...

, Coach America

Coach America

Coach America, also doing business as American Coach Lines, is a holding company for American bus services owned by New York-based private equity firm Fenway Partners operating under the Coach America, American Coach Lines, and Gray Line names...

 and Easton-Bell Sports, which it merged with its prior investment in sporting goods manufacturer Riddell

Riddell

Riddell is an American company specializing in sports equipment for American football, baseball, basketball, lacrosse, soccer, softball, track and field, tennis, volleyball, National Football League, NCAA Football and wrestling. It is headquartered in Des Plaines, Illinois.The company was started...

 (maker of football helmets).

Among the firm's most notable realized investments are high-end jewelry retailer Harry Winston

Harry Winston

Harry Winston was an American jeweler. He donated the Hope Diamond to the Smithsonian Institution in 1958 after owning it for a decade, and traded the Portuguese Diamond to the Smithsonian in 1963.-History:...

 and the Simmons Bedding Company

Simmons Bedding Company

Simmons Bedding Company is a major manufacturer of mattresses and related bedding products. The company is founded in 1870. Simmons' flagship brand is Beautyrest, and it is one of the oldest companies of this type in the USA. According to a Simmons press release, net sales for 2005 were $855...

.

Miscellaneous

The firm was named loosely in reference to Fenway Park

Fenway Park

Fenway Park is a baseball park near Kenmore Square in Boston, Massachusetts. Located at 4 Yawkey Way, it has served as the home ballpark of the Boston Red Sox baseball club since it opened in 1912, and is the oldest Major League Baseball stadium currently in use. It is one of two "classic"...

, but the firm is based in New York City

New York City

New York is the most populous city in the United States and the center of the New York Metropolitan Area, one of the most populous metropolitan areas in the world. New York exerts a significant impact upon global commerce, finance, media, art, fashion, research, technology, education, and...

 and has no connections with the Boston Red Sox

Boston Red Sox

The Boston Red Sox are a professional baseball team based in Boston, Massachusetts, and a member of Major League Baseball’s American League Eastern Division. Founded in as one of the American League's eight charter franchises, the Red Sox's home ballpark has been Fenway Park since . The "Red Sox"...

or Fenway park.

External links

• Fenway Partners (company website)