PE Tech Report

NEWSLETTER

Like this article?

Sign up to our free newsletter

Bear Stearns Merchant Banking to become independent private equity firm

Bear Stearns Merchant Banking, a private equity firm focused on middle-market investments, has announced that it soon will become an unaffiliated independent company, following the acquisi

Bear Stearns Merchant Banking, a private equity firm focused on middle-market investments, has announced that it soon will become an unaffiliated independent company, following the acquisition of its investment bank parent by JPMorgan.

The Bear Stearns Companies, now a subsidiary of JPMorgan Chase, will retain a passive interest in certain affiliates of Bear Stearns Merchant Banking and will continue to be responsible for co-investment commitments with respect to funds it currently manages.

The private equity business plans to change its name and to move its operations from its current location to new offices in New York. It says it will continue an investment strategy focuses on industry expertise in its core sectors of retail/consumer business and financial services as well as emerging areas such as energy, industrial, healthcare, packaging and transport.

The firm’s partners have a history in the private equity industry dating back to the 1980s. ‘We are pleased to transition into this new stage of our business,’ says chief executive John D. Howard.

‘We have built a successful investment portfolio, strategy and team of more than 50 professionals over the past 11 years. While we will be an independent entity, our strategy, industry focus, portfolio and current funds will remain in place.’

Established in 1997, Bear Stearns Merchant Banking invests private equity capital in buyouts, recapitalisations and growth capital opportunities through control or entrepreneur-driven investments. Overall the firm has invested in 67 portfolio companies and manages nearly USD5bn of private equity capital, including its current USD2.7bn institutional fund and capital dedicated to its affiliate, Bear Growth Capital Partners.

Current investments include Alter Moneta, Balducci’s, CamelBak Products, Caribbean Financial Group, Cavalry Investments, Churchill Financial Holdings, Doral Financial, MC Shipping, Multi Packaging Solutions, New York & Company, PlayCore, Rimrock Energy, Stuart Weitzman, Transamerican Auto Parts Company, Universal Hospital Services and the Vitamin Shoppe.

Like this article? Sign up to our free newsletter

MOST POPULAR

FURTHER READING

Featured