American Industrial Partners, in between fundraisings, bulks up IR function

American Industrial Partners hired a veteran fundraiser and limited partner relations executive as it works to build up its investor networks in between fundraisings, a source told Buyouts.

Many firms field investor relations groups that work with existing limited partners even between formal fundraisings. LP relations has become more important as private equity has evolved, and in today’s tough fundraising environment, firms need to be in front of both existing and potential investors well before the launch of a formal process.

AIP hired Emily Melchior to work as a partner in fundraising and IR. Melchior joins from Bansk Group, where she performed the same role. Melchior joined Bansk in 2022, before which she worked at Crosspoint Capital on fundraising and LP relations.

Earlier, Melchior worked in IR and as chief of staff at Searchlight Capital.

She joins the team after AIP raised the largest fund in its history, closing its eighth pool on its $5 billion hard cap in October.

The firm, formed in 2006, makes control investments in North American industrials businesses that are in some way underperforming, according to the firm’s Form ADV. AIP looks for companies with strong competitive positions, proprietary capabilities and leading market share that have potential for value enhancement, the ADV said.

It also likes predictability in revenue growth, product life cycles and profit margins, with emphasis on companies with global marketing and sourcing opportunities, as well as aftermarket sales opportunities, the ADV said.

The firm is principally owned by John Becker, Kim Marvin and Dino Cusumano, the ADV said. As of September 5, 2023, the firm managed about $15.5 billion on a discretionary basis. The firm closed its seventh fund on $3 billion in 2019.