Willis Stein & Partners' portfolio monetization and fund recapitalization

Date Announced:

Willis Stein & Partners III, L.P.

Closed – 08/2012

Undisclosed Read the case study

Exclusive Financial Advisor to Willis Stein & Partners III, L.P. on its Portfolio Monetization and Fund Recapitalization

On August 27, 2012, Willis Stein & Partners (“Willis Stein”), a Chicago-based middle market private equity firm, completed an innovative transaction to provide cash liquidity to limited partners (“LPs”) of its third and most recent fund, Willis Stein & Partners III, L.P. (the “Fund”). LPs were also permitted to elect to retain an investment in certain portfolio companies in order to benefit from their continued growth. The Fund was raised in 2000 with $1.8 billion in commitments and, at the time of Moelis & Company’s engagement in January 2012, was operating in its second of three one-year extensions. As an alternative to a third fund extension or liquidation of the remaining assets, Moelis & Company structured this transaction to address the varying objectives of a diverse group of existing investors, including a liquidity option at an attractive price. This was the third transaction that Moelis & Company completed in 2012 for Willis Stein or its portfolio companies, demonstrating our commitment to building long-term client relationships. Moelis & Company acted as exclusive financial advisor to the Fund.

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