Monomoy Capital Raises $2.25B for 5th PE Fund

Monomoy Capital Partners, a Greenwich, CT-based private equity firm focused on the middle market, has closed its fifth private equity fund, at $2.25 billion, which included a $250 million commitment from GPs and exceeded its initial target of $1.6 billion. The firm’s previous fund closed in late 2021 at over $1.1 billion.

Fund V’s limited partner hard cap of $1.99 billion was fully allocated within eight weeks, with the final close reached in five months. The rapid fundraising resulted in Monomoy doubling its investor base, which includes endowments, foundations, pension plans, insurance companies and family offices.

The Virginia Retirement System and the Ohio State Teachers Retirement System recently announced allocations of $150 million and $75 million, respectively, to the fund.

“The wide-ranging enthusiasm for Fund V is a testament to Monomoy’s dedicated team and investment strategy that continues to advance the scale and quality of our global partnerships,” said Monomoy founding partner and co-CEO Justin Hillenbrand.

The fund will invest in manufacturing, distribution and business services companies that the firm believes can benefit from its strategic and operational capabilities.

Monomoy was founded in 2005 and currently manages over $5 billion in assets across its private equity and credit strategies. The firm ranks within the top 10 for private equity fund managers, according to PitchBook’s Global Manager Performance Score.

Probitas Partners served as placement agent, with Ropes & Gray acting as fund counsel.