New PE Firm Alert: Manhattan Growth Partners
Manhattan Growth Partners has launched as a new growth equity firm led by Dean Bosacki (former managing director with Friend Skoler) and Patrick McBride (former partner with The Walnut Group). Bosaki says that MGP is utilizing a fundless sponsor model with several family office investors, although he "hates" the term fundless sponsor: "I just think the traditional private equity fund model is kind of broken, and LPs love the transparency and shorter investment cycle that comes with what we're doing," he explains. A typical MGP deal will involve between $10 million and $15 million of equity, in exchange for control positions in growth-stage companies. No official industry focus, although the partners’ backgrounds would suggest consumer products, lifestyle brands and services.
