WestView Capital Partners today announced the final closing of WestView Capital Partners, L.P., a private equity fund formed to make investments in minority and majority recapitalizations, buyouts and growth financings in companies operating at the lower end of the middle market. The fund received total commitments of $195 million, exceeding its target of $175 million.
WestView was formed in the middle of 2004 by its two managing partners: Carlo A. von Schroeter, formerly a partner of Weston Presidio, and Richard J. Williams, formerly a partner of Tudor Investments’ private equity group. Messrs. von Schroeter and Williams are joined by experienced professionals with whom they have worked in the past, including general partner John H. Turner, formerly a partner of Norwest Mezzanine Partners, along with principals Matthew T. Carroll and Jonathan E. Hunnicutt.
“We are pleased to have successfully concluded our fundraising and established a private equity firm that partners with management through both minority and majority investments,” said Mr. Williams. “Carlo and I have always believed that our flexible investment strategy is optimally suited for companies in the lower end of the middle market, the primary area of focus throughout our fifteen-year private equity investing careers.”
“While most of our commitments came from 16 institutional investors, we were pleased to have attracted substantial commitments from more than a dozen seasoned operating executives whom we have financed over the course of our careers,” said Mr. von Schroeter. “We appreciate the support and confidence these investors have shown in our team and investment strategy of partnering with management.”
Russell Pennoyer of Benedetto Gartland & Co., who acted as the fund’s placement agent, further commented “WestView’s fund was well received in the institutional market not only because of the strong reputations and track records of the founders, but also due to their unique approach and flexible investment strategy targeting lower middle market companies, an area which institutional investors recognized as underserved within the broader private equity universe.”