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Private equity firm MPE Partners closes $420 million fund


Private equity firm MPE Partners closes $420 million fund
CRAIN S CLEVELAND BUSINESS
MPE Partners Logo (PRNewsFoto/Morgenthaler Private Equity)
MPE Partners, a lower middle market private equity firm based in Cleveland and Boston, said it closed its oversubscribed third fund, MPE Partners III L.P., at the hard cap of $420 million.
The firm said in a news release that it launched fundraising in July and did not use a placement agent.
MPE expects to invest MPE Partners III in business-to-business manufacturing and services companies similar to those in MPE s prior funds, according to the release.
Peter Taft, a partner at MPE, said in a statement, Similar to our two prior funds, MPE Partners III was oversubscribed at its hard cap. We are honored to partner once again with our outstanding base of returning limited partners. We are also pleased to welcome a select number of new limited partners into the fund. ....

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