Nonantum Capital Partners has closed its inaugural private equity fund at its hard cap of USD350 million in limited partner capital commitments, concluding a fundraising process that launched in January.
Formed by a group of experienced private equity and management executives as a spin-out from Charlesbank Capital Partners, Nonantum focuses primarily on investing in family businesses, corporate carve-outs, and complex situations where opportunities exist to partner with management teams to transform businesses.
Over nearly two decades, the team has successfully invested in dozens of family businesses and corporate carve-outs in the consumer, industrial, and business services sectors. Nonantum will continue that strategy, with a focus on lower middle market companies with untapped potential where the team can leverage its investment and operational experience to build enduring value.
“Our team brings a differentiated level of experience to the target-rich lower middle market that will enable us to partner with management teams to drive transformative change,” says Jon Biotti, Managing Partner of Nonantum. “We are honoured by the support we have received from a world-class group of limited partners and are incredibly grateful to the Charlesbank team for their partnership over the years and through this fundraising process.”
Investors in the fund include leading endowments, foundations, family offices, Nonantum’s founders, and more than 20 portfolio company CEOs and industry executives. Inclusive of the contributions by Nonantum’s founders and affiliates, the fund received over USD385 million of total capital commitments.
The founders of Nonantum include two former senior investment professionals from Charlesbank (Jon Biotti and David Ganitsky), a former Managing Director and Operating Partner from Bain Capital (Laki Nomicos), two Executive Partners with decades of experience as CEOs of leading consumer and industrial companies (Neil DeFeo and Ron DeFeo), and a Chief Operating Officer with extensive private equity experience (Scott Farden).
Proskauer Rose LLP served as outside fund counsel.
