Key Takeaways
- • Manhattan West Private Equity has closed its inaugural fund, according to a Business Wire press release issued by the Los Angeles-based strategic investment firm.
- • The Fund targets underserved sectors in media, entertainment and sports, and aims to provide investors with a 15 percent annual cash yield across the portfolio.
- • The Fund focuses on the lower middle market and has made a majority investment in a Formula 1 Exhibition, backed the management buyout of Round Room Live, and made a strategic growth investment in Vino Vault.
- • Matt Gibbons, Managing Director of Private Equity, leads the Fund, which draws on Manhattan West's Private Wealth and Alternative Investment groups and offers each deal as a co-investment through a special purpose vehicle.
Summary
Manhattan West, described as a global strategic investment firm offering an integrated platform of investments and services, announced that Manhattan West Private Equity has successfully closed its inaugural fund, according to the company's Business Wire release. The Los Angeles-based Fund targets what it describes as the most attractive underserved sectors in media, entertainment and sports, and aims to deliver investors a 15 percent annual cash yield across the portfolio. The release does not disclose the fund's target or final closing size.
The Fund's stated focus is high-growth sectors with large addressable markets, including the experiential economy, the global sports marketplace and the evolving media landscape. It has most recently announced a majority stake in the first-of-its-kind Formula 1 Exhibition. Other investments to date include backing the management buyout of live entertainment company Round Room Live and a strategic growth investment in Vino Vault, a wine storage and value-added services provider.
The Fund invests in the lower middle market, which the firm says is often characterized by larger returns, more entrepreneurial management teams and less private equity competition. It seeks companies run by strong management teams that are well positioned to benefit from strategic enhancements, operational improvements and industry tailwinds. Matt Gibbons, Managing Director of Private Equity, said the firm partners with entrepreneurs who have proven business models and applies a hands-on approach. He said the Fund was launched to unearth value in businesses at strategic inflection points and thanked investors for their interest and support.
Lorenzo Esparza, CEO and Founding Principal of Manhattan West, said the close marks an exciting milestone and that the firm aims to offer clients exclusive opportunities with the potential for attractive, risk-adjusted returns. The Fund draws on the infrastructure of Manhattan West's Private Wealth and Alternative Investment groups and has access to a network of athletes, celebrities and operators that the firm says provides evergreen deal flow in targeted sectors. Each fund investment is also offered as a co-investment through a special purpose vehicle (SPV).
Manhattan West describes itself as offering proprietary alternative investments across Private Equity, Venture Capital, Real Estate, Private Debt, and traditional equity and fixed income portfolios, along with business management, tax and estate planning services.
The Fund's stated focus is high-growth sectors with large addressable markets, including the experiential economy, the global sports marketplace and the evolving media landscape. It has most recently announced a majority stake in the first-of-its-kind Formula 1 Exhibition. Other investments to date include backing the management buyout of live entertainment company Round Room Live and a strategic growth investment in Vino Vault, a wine storage and value-added services provider.
The Fund invests in the lower middle market, which the firm says is often characterized by larger returns, more entrepreneurial management teams and less private equity competition. It seeks companies run by strong management teams that are well positioned to benefit from strategic enhancements, operational improvements and industry tailwinds. Matt Gibbons, Managing Director of Private Equity, said the firm partners with entrepreneurs who have proven business models and applies a hands-on approach. He said the Fund was launched to unearth value in businesses at strategic inflection points and thanked investors for their interest and support.
Lorenzo Esparza, CEO and Founding Principal of Manhattan West, said the close marks an exciting milestone and that the firm aims to offer clients exclusive opportunities with the potential for attractive, risk-adjusted returns. The Fund draws on the infrastructure of Manhattan West's Private Wealth and Alternative Investment groups and has access to a network of athletes, celebrities and operators that the firm says provides evergreen deal flow in targeted sectors. Each fund investment is also offered as a co-investment through a special purpose vehicle (SPV).
Manhattan West describes itself as offering proprietary alternative investments across Private Equity, Venture Capital, Real Estate, Private Debt, and traditional equity and fixed income portfolios, along with business management, tax and estate planning services.
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