Mill Point Capital raises $450m

The New York-based firm closes its debut vehicle at hard cap.

Mill Point Capital held a final close on its inaugural flagship fund, Mill Point Capital Partners, at $450 million.

The fund, which was oversubscribed and closed at its hard cap, will make control-oriented investments in middle-market companies in the business services and industrial sectors. The New York-based firm surpassed its initial target of $375 million after less than eight months on the road.

The Los Angeles City Employees’ Retirement System (LACERS) is among the vehicle’s known limited partners, having committed up to $10 million.

Acalyx served as the fund’s placement advisor, and Kirkland & Ellis provided legal counsel.