Norwest Capital Advisors has held the final close of Norwest Equity Partners XI and Norwest Mezzanine Partners V with approximately $1.0bn and $400m of of total capital commitments, respectively.
The funds, which will focus on investments in middle market buyout and mezzanine opportunities, attracted several large institutional investors as limited partners.
The Norwest Capital team is already actively deploying both funds with Norwest Equity Partners XI having completed three investments, each consistent with its operationally focused strategy of helping good businesses become market champions in their sectors. Norwest Mezzanine Partners V meanwhile, has completed one investment, continuing its focus on delivering creative transaction solutions to support the long-term growth of companies backed by financial sponsors.
Kirkland & Ellis LLP acted as legal counsel, and Lazard acted as exclusive placement agent for the two funds.
