New State Capital Partners has closed its second institutional investment fund, New State Capital Partners Fund II, with USD255 million in committed capital. The Fund exceeded its target and closed at its hard cap and New State now has in excess of USD800 million AUM as a result.
New State focuses on providing flexible capital in buy-and-build situations. With Fund II, New State can invest more than USD50 million in equity per transaction. New State seeks to invest in five to seven platforms with Fund II, and will further build its platforms organically and via add-on acquisitions. The firm targets investments in the business services, healthcare services and industrials sectors.
“We are very pleased and grateful for the strong response New State Fund II received,” says David Blechman, Founder and Principal of New State. “New State strives to be a different kind of investment firm, with a flexible mandate, a true focus on buy-and-build, and active participation by senior professionals – and without the constraints of more institutional situations. With Fund II, we will apply our expertise and growth strategy to a strong group of platform companies. We look forward to the great relationships we will build with a new group of entrepreneurs as we seek to responsibly steward Fund II on behalf of our valued limited partners.”
