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Motive Partners raises USD473m for inaugural fund

Motive Partners has held the final close of its inaugural fund, Motive Capital Fund I (MCFI), with more than USD473 million in capital commitments.

MCFI is managed by Motive Partners and is the firm’s debut private equity fund focusing on growth and buyout opportunities in financial and business services technology companies. Capital commitments came from public pension plans, sovereign wealth funds, alternative asset managers, family offices, endowments and foundations across North America, Europe, the Middle East and Australasia.

The Fund has already invested in six portfolio companies requiring a total of USD3 billion of equity from Motive, LP co-investors and broader investor consortia. The portfolio proudly includes Avaloq, Dun & Bradstreet, Finantix, Global Shares, LMRKTS and LPA.

Motive Partners partnered with Houlihan Lokey on the fundraise of MCFI, which was led by Robert (Bob) Brown in his previous role as Global Co-Head of Houlihan Lokey’s Private Funds Group. Motive also announced, today, the appointment of Bob as a Founding Partner and Member of the Firm’s Executive Committee. Bob will oversee various functions including Capital Raising, Investor Relations, Business Development, Marketing and Communications.

Rob Heyvaert, Motive Partners Founder & Managing Partner, says: “We are humbled by the strong support from our new Limited Partners and look forward to developing deep and longstanding relationships with each of them to achieve our collective goals.

“We believe that the Financial Technology opportunity is only just beginning, and the application of Motive’s capabilities uniquely position us to partner with management teams in an effort accelerate the growth potential of portfolio companies.

“Bob has been an exceptional asset to the firm, and his arrival at Motive Partners demonstrates our commitment to build a best in class operation across all functional capabilities. I am excited to welcome Bob to the Motive Team and to continue our collective journey together.”

Bob Brown founded BearTooth Advisors in 2014, providing strategic advisory and placement agency services to alternative investment managers from offices in London and New York City. The firm used its combination of extensive in-house and agency experience to develop customized capital raising solutions for General Partners. In 2018, Houlihan Lokey acquired BearTooth Advisors.

Bob Brown, Founding Partner of Motive Partners, says: “Working with Rob and the broader Motive team through the raise of MCFI was a remarkable experience that gives me great confidence in Motive’s unique market position and ability to deliver for investors, management teams and portfolio companies alike.

“I am delighted to join the leadership team and look forward to deepening our relationships with an already stellar LP base.”

Prior to establishing BearTooth, Brown was a Partner, Managing Director and Global Head of Marketing and Limited Partner Services at Advent International. Prior to Advent, he spent almost 11 years at Carlyle, concluding his tenure as a Partner. In total, he has contributed to the formation of almost 180 private investment funds and co-investment vehicles.

David M Rubenstein, Co-Founder of The Carlyle Group, says: “I’ve known Bob Brown, a former Carlyle colleague and friend of the past two decades. This is an exciting opportunity for Bob, who brings excellent judgment and a deep understanding of the private equity landscape to Motive and its investors.”

Motive Partners applies expertise to portfolio firms through its internal teams, Global Advisory Council, Industry Partner model and Motive Labs. The Global Advisory Council is a group of experienced Senior Advisors that provides strategic guidance to Motive Partners and its portfolio companies. The Industry Partner model, which is an extension of the operating model, enables Motive Partners to extend its connectivity across technology and financial services and to deepen its industry insight and technical expertise. These proprietary capabilities ensure dedicated expertise is applied to the origination, execution and operating of investments from the outset.

Stephen C Daffron, President at Dun & Bradstreet and Industry Partner at Motive Partners, says: “Motive’s success, both raising MCFI and with the portfolio so far, is the product of our team’s ability and experience in identifying long-term, secular growth themes and trends over the last 25 years. Having witnessed it first hand, it is clear that the combination of investors, operators and innovators with the Industry Partners and Motive Labs gives a unique perspective for identifying and growing portfolio companies.”

Houlihan Loukey served as placement agent and Gibson Dunn provided legal counsel.

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