Technology, media and communications investment bank Drake Star Partners has launched private equity co-investments which are made with its own capital in partnership with like-minded co-investors.
They consist of partnerships on behalf of some of the world's largest multi-billion-dollar single family offices.
It comes just over a month after Redwood Capital and LD&A Jupiter announced their merger to form Drake Star Partners.
Drake Star Partners seeks to invest between USD15 million to USD100 million of capital per transaction in middle market private equity technology, media and communications investment opportunities, including buyouts, build-ups, acquisitions, growth equity and recapitalisations worldwide.
Marc Deschamps, xo-CEO at Drake Star Partners, says: "We are thrilled to announce this co-investment activity, which perfectly reflects our guiding motto and commitment to helping innovations change the world. This large co-investment initiative is very much dedicated to supporting private equity firms and other world class financial investors with their own activities. This is prompted by the lead funds' request for us to join the investment process as we only participate when invited to do so. It also allows us to invest with greater flexibility in global transactions that are not necessarily backed by our own firm's M&A advisory activity."
Gregory Bedrosian, Drake Star Partners' co-CEO, says: "Through our co-investment partnership and collaboration with lead private equity investors, we have already successfully completed three investments as a part of co-investor consortiums in transactions totalling over USD70 million in aggregate co-investment equity capital invested alongside lead financial sponsors. Our current portfolio of companies includes CSS Corporation (IT services sector), Club Med (entertainment & hospitality sector) as well as an investment in the media and communications sector. In each case we have co-invested alongside some of the world's most sophisticated private equity firms and family office groups, supporting each management team's growth and development strategy for these stellar companies."
