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Alternative Assets  + Private Equity  | 
May River Closes Third Fund at $500M to Invest in Industrial Businesses

May River Closes Third Fund at $500M to Invest in Industrial Businesses

May River Capital, a Chicago-based private equity investment firm, has closed its third fund, May River Capital Fund III, at its hard cap of $500 million in limited partner commitments, exceeding the fund’s original target size.

The new vehicle marks a big jump from the $300 million Fund II May River raised at the end of 2019.

The fund will continue May River Capital’s focus on investing in lower-middle market industrial businesses. Since its founding in 2012, the firm has raised more than $1.2 billion and invested in 11 platform companies, as well as completed 17 add-on acquisitions.

Recent deals from the firm include creating material handling equipment specialist Automated Handling Solutions through a merger of two other businesses.

The firm used M2O Private Fund Advisors as a placement agent for the raise.

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About Joe Palmisano

Joe Palmisano is Editorial Director for Connect Money, where he brings nearly three decades experience of market insights as a financial journalist, analyst and senior portfolio manager for leading financial publications, advisory firms, and hedge funds. In his role as Editorial Director, Joe is responsible for the selection of content and creation of daily business news covering the financial markets, including Alternative Assets, Direct Investment and Financial Advisory services. Before joining Connect Money, Joe was a financial journalist for the Wall Street Journal, regularly publishing feature stories and trend pieces on the foreign exchange, global fixed income and equity markets. Joe parlayed his experience as a financial journalist into roles as a Senior Research Analyst and Portfolio Manager, writing daily and weekly market analysis and managing a FX and US equity portfolio. Joe was also a contributing writer for industry magazines and publications, including SFO Magazine and the CMT Association. Joe earned a B.S.B.A. in Finance from The American University. He holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.