04-03-12

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News : 2012

New York Life Capital Partners Closes Third Mezzanine Fund

03 April 2012

NEW YORK - April 3, 2012 - New York Life Capital Partners, a private equity affiliate of New York Life Investments, today announced the successful closing of its third mezzanine fund.  NYLCAP Mezzanine Partners III, LP (the "Fund") held its final close on March 30, 2012, with total commitments of $980 million, more than a 20 percent increase than its predecessor fund1.

"We are very grateful for the show of support we received from investors and we are confident that our strategy of investment in the middle market, with longstanding sponsor relationships, will continue to deliver strong results" said Thomas Haubenstricker, CEO of New York Life Capital Partners. 

The Fund will maintain its consistent strategy of partnering with successful private equity groups by providing mezzanine financing to support their acquisition of middle market companies in the U.S. and Western Europe.  To date, the Fund has invested $235 million in 10 portfolio companies.

The Fund's global investor base is represented by public and private pension funds, financial institutions, insurance companies, family offices, select individuals and sovereign pools of capital.  "Historically, investors in this asset class have been large financial institutions and insurance companies, however in this fundraising effort, we have seen an increased interest among new types of investors seeking attractive yields and consistent downside protection," said Haubenstricker.

New York Life Capital Partners raised its first dedicated mezzanine fund in 2002, and the existing team has invested $1.9 billion in 90 mezzanine transactions on behalf of the funds. 

About New York Life Capital Partners

New York Life Capital Partners manages approximately $8.3 billion of private equity assets, including co-investment, mezzanine, and fund advisory programs.  As an affiliate of New York Life Investments, New York Life Capital Partners manages alternative assets for New York Life Insurance Company, its affiliates and other institutional investors. 


"New York Life Investments" is defined here as New York Life Investment Management Holdings LLC (NYLIM Holdings). "New York Life Investments" is a service mark used by NYLIM Holdings and its subsidiary, New York Life Investment Management LLC. 

1 NYLIM Mezzanine Partners II LP closed to additional investors in 2007.

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