LARCHMONT, N.Y. – May 3, 2021 – New State Capital Partners has officially announced the successful closing of its third institutional investment fund, New State Capital Partners Fund III, LP (Fund III), securing $450 million in capital commitments. This latest fund was significantly oversubscribed, reaching its hard cap within approximately four months of its launch, demonstrating strong investor confidence in the firm’s strategy and team.
Fund III attracted a diverse base of global investors, including public and private pension funds, consultants, endowments, foundations, funds of funds, and family offices. This successful fundraise builds upon the momentum of New State Capital Partners’ previous fund, Fund II, which closed in March 2018 with $255 million. Currently, New State Capital Partners manages approximately $1.2 billion in assets, highlighting its significant growth trajectory in the private equity space.
David Blechman, Founder and Senior Principal of New State Capital Partners, expressed his gratitude, stating, “We sincerely thank both our existing and new investors for their robust interest in the New State Capital Partners team. We are well-positioned to continue executing our core investment strategy: partnering with exceptional middle market companies, adopting an entrepreneurial approach, supporting independent sponsors, and providing comprehensive resources to our portfolio partners.”
With Fund III, New State Capital Partners is equipped to deploy up to $100 million in equity per transaction. The firm’s investment focus remains on high-growth sectors within business services, industrials, and the consumer market. Since its inception in 2013, New State Capital Partners has built a strong portfolio of 27 companies, including 14 platform investments, demonstrating its active and impactful investment approach. Recent notable investments by New State Capital Partners include:
- Mako: A leading provider of innovative solutions for the self-storage industry.
- Klein Hersh: Recognized as a premier executive search firm specializing exclusively in the life sciences and healthcare sectors.
- KMS: One of the largest resellers of closeout consumer products across the United States.
M2O Private Fund Advisors LLC served as the placement agent for New State Capital Partners during this fundraise, and Kirkland & Ellis LLP provided legal counsel.
About New State Capital Partners LLC
New State Capital Partners is a private equity firm characterized by its entrepreneurial spirit and commitment to being agile, decisive, and collaborative. The firm emphasizes a long-term perspective, viewing each investment as an opportunity to cultivate enduring, valuable relationships with company founders and, in particular, independent sponsors. New State Capital Partners has the capacity to invest up to $100 million in equity per transaction, targeting market-leading companies with EBITDA ranging from $8 million to $35 million within the business services, industrials, and consumer sectors. To date, New State Capital Partners and its affiliates have invested in 27 companies. For further details, please visit www.newstatecp.com.
Media Contacts
Lambert & Co.
Joanne Lessner, [email protected], 212-222-7436
Caroline Luz, [email protected], 203-656-2829
SOURCE New State Capital Partners LLC
