Metalmark Capital
Encyclopedia
Metalmark Capital, formerly Morgan Stanley Capital Partners
is a private equity
firm focused on leveraged buyout
investments in middle-market companies across a range of industries. Metalmark was acquired by Citigroup Alternative Investments
in December 2007.
The firm, which is based in New York City
, traces its roots back to 1985. Metalmark was founded as an independent firm in 2004. The firm has raised approximately $8.5 billion since inception across four funds at Morgan Stanley and one fund raised since the firm's spinout.
In 2004, the Morgan Stanley Capital Partners team began preparations to separate itself from Morgan Stanley
. The spinout of MSCP came at the same time as the spinouts of private equity groups from other leading investment banks including: JPMorgan Chase (CCMP Capital
), Citigroup
(Court Square Capital Partners
), Deutsche Bank (MidOcean Partners
) and Credit Suisse First Boston
(Avista Capital Partners
, Diamond Castle Holdings
).
In December 2007, Metalmark was acquired by Citigroup Alternative Investments
as one of a series of investments in merchant banking and hedge funds by the bank's CEO Vikram Pandit
. Citigroup's middle market private equity group, CVC Equity Partners had completed a spinout from Citigroup in 2006 to form Court Square Capital Partners
. Citigroup disposed of its remaining interest in Court Square following the purchase of Metalmark.
Morgan Stanley
Morgan Stanley is a global financial services firm headquartered in New York City serving a diversified group of corporations, governments, financial institutions, and individuals. Morgan Stanley also operates in 36 countries around the world, with over 600 offices and a workforce of over 60,000....
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 focused on 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...
investments in middle-market companies across a range of industries. Metalmark was acquired by Citigroup Alternative Investments
Citigroup
Citigroup Inc. or Citi is an American multinational financial services corporation headquartered in Manhattan, New York City, New York, United States. Citigroup was formed from one of the world's largest mergers in history by combining the banking giant Citicorp and financial conglomerate...
in December 2007.
The firm, which 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...
, traces its roots back to 1985. Metalmark was founded as an independent firm in 2004. The firm has raised approximately $8.5 billion since inception across four funds at Morgan Stanley and one fund raised since the firm's spinout.
History
From 1985 to 2004, Morgan Stanley Capital Partners invested over $7 billion through four funds. Morgan Stanley Leveraged Equity Fund I was raised in 1985 followed two years later by Morgan Stanley Leveraged Equity Fund II, which was raised in 1987 with $2.2 billion of investor commitments. In 1991, the group raised $1.87 billion of investor commitments for Morgan Stanley Capital Partners III. The most recent fund, Morgan Stanley Capital Partners IV was raised in 1999 with total commitments of $3.3 billion.In 2004, the Morgan Stanley Capital Partners team began preparations to separate itself from Morgan Stanley
Morgan Stanley
Morgan Stanley is a global financial services firm headquartered in New York City serving a diversified group of corporations, governments, financial institutions, and individuals. Morgan Stanley also operates in 36 countries around the world, with over 600 offices and a workforce of over 60,000....
. The spinout of MSCP came at the same time as the spinouts of private equity groups from other leading investment banks including: JPMorgan Chase (CCMP Capital
CCMP Capital
CCMP Capital is a private equity investment firm that focuses on leveraged buyout and growth capital transactions. Formerly known as JP Morgan Partners, the investment professionals of JP Morgan Partners separated from JPMorgan Chase on July 31, 2006. CCMP has invested approximately $12 billion...
), Citigroup
Citigroup
Citigroup Inc. or Citi is an American multinational financial services corporation headquartered in Manhattan, New York City, New York, United States. Citigroup was formed from one of the world's largest mergers in history by combining the banking giant Citicorp and financial conglomerate...
(Court Square Capital Partners
Court Square Capital Partners
Court Square Capital Partners is a private equity firm focused on leveraged buyout transactions. Court Square was originally a captive private equity firm within Citigroup known as Citigroup Venture Capital Equity Partners...
), Deutsche Bank (MidOcean Partners
MidOcean Partners
MidOcean Partners is a private equity firm specializing in leveraged buyouts, recapitalizations and growth capital investments in middle-market companies...
) and Credit Suisse First Boston
Credit Suisse First Boston
Credit Suisse First Boston was the former name of the banking firm Credit Suisse.-History:In 1978, Credit Suisse and First Boston Corporation formed a London-based 50-50 investment banking joint venture called the Financière Crédit Suisse-First Boston...
(Avista Capital Partners
Avista Capital Partners
Avista Capital Partners is a private equity firm focused on growth capital and leveraged buyout investments in middle-market companies in the energy, healthcare and media sectors....
, Diamond Castle Holdings
Diamond Castle Holdings
Diamond Castle Holdings is a private equity firm focused on leveraged buyout and growth capital investments in middle-market companies across a range of industries including the media, healthcare, financial services, power and industrial sectors....
).
In December 2007, Metalmark was acquired by Citigroup Alternative Investments
Citigroup
Citigroup Inc. or Citi is an American multinational financial services corporation headquartered in Manhattan, New York City, New York, United States. Citigroup was formed from one of the world's largest mergers in history by combining the banking giant Citicorp and financial conglomerate...
as one of a series of investments in merchant banking and hedge funds by the bank's CEO Vikram Pandit
Vikram Pandit
Vikram S. Pandit is an Indian-born American business executive. He is the current CEO of Citigroup.-Early life:Vikram Pandit was born in Nagpur, India to an affluent Marathi family . His father, S B Pandit was an executive director at Sarabhai Chemicals in Baroda. He completed his schooling at the...
. Citigroup's middle market private equity group, CVC Equity Partners had completed a spinout from Citigroup in 2006 to form Court Square Capital Partners
Court Square Capital Partners
Court Square Capital Partners is a private equity firm focused on leveraged buyout transactions. Court Square was originally a captive private equity firm within Citigroup known as Citigroup Venture Capital Equity Partners...
. Citigroup disposed of its remaining interest in Court Square following the purchase of Metalmark.
External links
- Metalmark Capital (company website)