Emerging Managers

The fund is among several that are bringing capital into a small and emerging manager ecosystem that is seeing a general reduction of capital flows.

Unique for an emerging manager, Unity Partners is committed to practicing employee ownership in all its mid-market buyout investments.

The firm is raising the pool at a time when interest among LPs in gaining direct exposure to companies is on the rise and the capital pool for independent sponsors is growing.

Fund II's limited partners include endowments & foundations, public and private pensions, consultants, fund of funds and family offices.

'We actually had our most active year of new investments in 2023,' said co-founder and managing partner Bob Morse.

Fund I beat its $50m target and received permission from LPs to go slightly over its $75m cap.

GEF US Climate Solutions Fund II invests in lower middle-market companies in the U.S. and Canada focused on climate change.

StepStone was the fund's lead investor.

Buyers have a chance to seize on more proprietary deal flow in the small end of the market, with many processes not run by a banker.

Magnesium Capital I's limited partners include blue-clip institutional investors from the US, Europe and the UK.