New York-based private equity fund Elm Equity Partners has held a final close for its debut fund, which was oversubscribed.
Elm Equity managing partner Michael Mazzeo refused to disclose the amount of the final close.
The firm will target mid-market businesses with revenues of between $5m and $50m in the administrative services, technology, healthcare, and educational sectors.
Elm’s management team has completed more than 25 acquisitions. The firm’s LPs include institutional, family office and individual investors.
Managing director Elliot Luchansky said, “The members of our particularly cohesive investor team have executed hundreds of successful investments in privately-held companies.
“In addition to their investing track record, they have run dozens of hugely successful organizations and bring many years of both private and public board level leadership.”
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