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Norwest Equity Partners and Norwest Mezzanine Partners raise USD2.4bn in capital

Norwest Equity Partners (NEP) has formed Norwest Equity Partners X (NEP X), a USD1.6 billion limited partnership focused on growth investments, and Norwest Mezzanine Partners IV, (NMP IV), an USD800 million limited partnership from NEP's affiliated mezzanine investment firm, Norwest Mezzanine Partners (NMP), which will invest flexible junior capital in support of private equity-sponsored transactions.

The new capital, which is significantly higher than the firm's previous capital raises in 2008 (NEP IX with USD1.2 billion and NMP III with USD750 million), positions the firm to achieve its strategic growth initiatives for the future. Since inception, the firm has raised over USD7.1 billion.

Tim DeVries, NEP Managing General Partner, says: "It would be an understatement to say that this is an exciting time for our firm. In addition to raising USD2.4 billion of new capital, we are also proudly celebrating our firm's 54th anniversary and the long and distinguished history we've built over the years. NEP X and NMP IV are tremendous new opportunities and position us for great investments in the future."

In addition to its recent capital raise, the firm has also announced key personnel changes to strengthen its team. 

"We invest capital to support our companies and continuously evaluate their needs to help them grow and succeed. Internally, we measure our own success with how we collectively think and execute to make a difference. Our people are collaborative, smart, and focused on operational excellence to create long-term value — both for our firm and our companies. I couldn't be more proud of our team," DeVries says.

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