New York, New York – March 16, 2016 – Tenex Capital Management is pleased to announce the final closing of Tenex Capital Partners II, L.P. (Fund II) at its hard cap of $814 Million, including a 3% General Partner commitment. After opening a preliminary dataroom for a limited group of investors in October 2015, Tenex decided not to broadly launch the process, and held an initial closing at the end of January on nearly 90% of its target size.
Tenex secured commitments from a diversified investor base of leading endowments, foundations, public and corporate pension plans, family offices, insurance companies, and global financial institutions.
Tenex CEO Mike Green commented, “We are very appreciative for the confidence demonstrated by our existing client base, which we retained at an extremely high rate from our initial fund. In addition, we are very grateful for the outpouring of support and interest from new investors – both those which we were able to accommodate, as well as those that we could not fit into the fund this time around. We look forward to working with our partners to continue to seek strong returns by relying on Tenex’s operational expertise and ability to generate variable cost productivity. The Limited Partner market was extremely receptive to our hands-on approach to value creation and uniquely operational mandate and experience.”
Tenex has grown steadily since its founding in 2009, and remains focused on investing in dynamic or transitional situations, such as corporate carve-outs and family-owned businesses undergoing operational change within the middle market, where it has achieved its success to date by working collaboratively with experienced management teams.
Tenex did not use a placement agent for Fund II, and Debevoise & Plimpton LLP served as legal counsel.
Tenex Capital Management is a private equity firm that makes control investments in middle-market companies. Tenex utilizes an in-house team of hybrid investment professionals skilled in operational leadership, investing and capital markets structuring to maximize long-term value creation. Tenex’s deep operating experience allows the firm to collaborate with management teams to capitalize on business and market opportunities. Tenex has established a successful track record investing in diverse industries, including industrials, manufacturing, and health and business services. For additional information, please visit www.tenexcm.com.
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