Private equity firm GoldPoint Partners LLC has raised its fourth mezzanine fund with approximately $1.3 billion in total capital commitments. The fund, GoldPoint Mezzanine Partners IV LP, closed with nearly 25 percent more in capital commitments than its predecessor fund.
GoldPoint Mezzanine Partners IV is a continuation of the firm’s middle-market mezzanine investing program, which began in 1991. The fund received investments from public and private pension funds, financial institutions, insurance companies, family offices and individuals. The fund is managed by a team of six investment professionals. The GoldPoint team has invested approximately $3.2 billion in more than 125 mezzanine transactions.
GoldPoint, the private equity affiliate of New York Life Investments, currently manages $11.8 billion in private equity assets. These assets include equity co-investments, mezzanine investments in alternative investment funds.
John Schumacher, CEO of GoldPoint, credits the firm’s success to its “core partner strategy where we identify and invest in top performing sponsors and then become their trusted partner for mezzanine financing.”
Prudential Capital is one of few investment firms to raise a debt fund recently, collecting approximately $1.8 billion in capital commitments. Yet, mezzanine debt ruled middle-market financing across the board in 2016. In November 2016, the Carlyle Group LP (Nasdaq: CG) doubled down on its commitment to the energy sector by raising a $2.8 billion mezzanine fund, nearly twice the size of the firm’s inaugural energy fund in 2012. The Audax Group raised its fourth fund valued at $1.2 billion to invest in middle-market companies across a variety of industries, including: aerospace and defense, consumer, health care, logistics, manufacturing and software. NXT Capital LLC closed its fourth debt fund at $900 million. Other raises come from Carlyle’s CLO fund and Monroe Capital’s $800 million credit fund.