Talking top quartile with Terry Mullen of Arsenal Capital

Arsenal Capital Partners II, the $500 million buyout fund run by New York-based Arsenal Capital Partners, landed near the leaders among top quartile funds from 2006 with an internal rate of return of 21.3 percent as of Sept. 30, 2012, according to data compiled by Buyouts.Terry Mullen, who co-founded the firm with Jeff Kovach in 2000 after working at Thomas H Lee Partners LP and Morgan Stanley, said the firm continues to target specialty industrial and healthcare companies with revenue of $30 million to $400 million. In April, Arsenal closed Arsenal Capital Partners III with $875 million in commitments. Currently, the firm manages $1.7 billion.

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