- Metalmark Capital
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Metalmark Capital Partners 
Type Private Industry Private equity Predecessor Morgan Stanley Capital Partners Founded 1985 (2004 as Metalmark) Founder(s) Howard Hoffen Headquarters New York, New York, United States Products Leveraged buyout, Growth capital Total assets $8.5 billion[1] Employees 25+ Website www.metalmarkcapital.com Metalmark Capital, formerly Morgan Stanley Capital Partners is a private equity firm focused on leveraged buyout investments in middle-market companies across a range of industries. Metalmark was acquired by Citigroup Alternative Investments in December 2007.[2][3]
The firm, which is based in New York City, traces its roots back to 1985. Metalmark was founded as an independent firm in 2004. The firm has raised approximately $8.5 billion since inception across four funds at Morgan Stanley and one fund raised since the firm's spinout.
History
From 1985 to 2004, Morgan Stanley Capital Partners invested over $7 billion through four funds. Morgan Stanley Leveraged Equity Fund I was raised in 1985 followed two years later by Morgan Stanley Leveraged Equity Fund II, which was raised in 1987 with $2.2 billion of investor commitments. In 1991, the group raised $1.87 billion of investor commitments for Morgan Stanley Capital Partners III.[4] The most recent fund, Morgan Stanley Capital Partners IV was raised in 1999 with total commitments of $3.3 billion.
In 2004, the Morgan Stanley Capital Partners team began preparations to separate itself from Morgan Stanley[5]. The spinout of MSCP came at the same time as the spinouts of private equity groups from other leading investment banks including: JPMorgan Chase (CCMP Capital), Citigroup (Court Square Capital Partners), Deutsche Bank (MidOcean Partners) and Credit Suisse First Boston (Avista Capital Partners, Diamond Castle Holdings).
In December 2007, Metalmark was acquired by Citigroup Alternative Investments as one of a series of investments in merchant banking and hedge funds by the bank's CEO Vikram Pandit.[6][7] Citigroup's middle market private equity group, CVC Equity Partners had completed a spinout from Citigroup in 2006 to form Court Square Capital Partners. Citigroup disposed of its remaining interest in Court Square following the purchase of Metalmark.[8]
References
- ^ Includes $7.3 billion of capital raised by Morgan Stanley Capital Partners, Metalmark's direct predecessor
- ^ Citi to Buy Buyout Firm Metalmark. New York Times, December 10, 2007
- ^ Citigroup Agrees to Buy an Equity Firm. Reuters, December 11, 2007
- ^ Morgan Stanley Executive Shift. New York Times, February 10, 1996
- ^ Making the Venture Capitalists Play by the Parents' Rules. New York Times, April 21, 2006
- ^ Citi to Buy Buyout Firm Metalmark. New York Times, December 10, 2007
- ^ Citigroup Agrees to Buy an Equity Firm. Reuters, December 11, 2007
- ^ Kreutzer, Laura. "Citigroup shutting down VC arm after Metalmark buy." DowJones Private Equity News, May 29, 2008
- A Golden Alley On Wall Street; Merchant Banking's Midas Touch Reaches Even Mundane Enterprises. New York Times, October 23, 1997
External links
- Metalmark Capital (company website)
Private equity and venture capital investment firms Investment strategy 
History History of private equity and venture capital · Early history of private equity · Private equity in the 1980s · Private equity in the 1990s · Private equity in the 2000sInvestors Institutional Investors · Pension funds · Insurance companies · Endowments · Investment Banks · Merchant banks · Fund of funds · High net worth individuals · Angel investors · Family offices · Sovereign wealth fundsPrivate equity firms · Venture capital firms · Portfolio companies Merchant banking private equity groups (current and prior) ABN Amro: AAC Capital Partners · Bank of America: BAML Capital Partners · Barclays Capital: Barclays Private Equity · Bear Stearns: Irving Place Capital (fka BSMB) · CIBC World Markets: Trimaran Capital Partners · Citigroup: Metalmark Capital · Court Square Capital Partners · CVC Capital Partners · Credit Suisse: DLJ Merchant Banking · Avista Capital Partners · Diamond Castle Holdings · Deutsche Bank: MidOcean Partners · First Chicago Bank (defunct): Madison Dearborn Partners · GTCR · Goldman Sachs: Goldman Sachs Capital Partners · JPMorgan Chase: CCMP Capital (fka JPMorgan Partners) · One Equity Partners · Lazard: Lazard Alternative Investments · Lehman Brothers (defunct): Trilantic Capital Partners · Morgan Stanley: Metalmark Capital · Morgan Stanley Capital Partners · UBS: UBS Capital · Affinity Equity Partners · Capvis · Lightyear Capital · Wells Fargo: Norwest Venture Partners · Pamlico Capital · William Blair & Company: Chicago Growth Partners · William Blair Capital Partners
List of investment banking private equity groups Categories:- Private equity firms
- Companies established in 1985
- Investment banking private equity groups
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