Firm: Mill Road Capital
Fund: Mill Road Capital LP
Target: $250 million
Placement Agent: Triago
Mill Road Capital, which takes minority positions in small-cap public companies across a broad swath of industries, and buys some of them outright, at deadline was preparing to close its first fund north of its $250 million target, a source familiar with the fundraising effort told Buyouts. It typically holds an investment two to three years.
Thomas Lynch, formerly the founder and managing director at Lazard Capital Partners, a buyout firm affiliated with investment bank Lazard, and before that a managing director at The Blackstone Group, founded Mill Road in 2005. Lynch is also senior managing director of Mill Road Associates, a financial advisory services firm he founded in 2000.
Working alongside Lynch is Jack Roberts, managing director, who has 28 years of experience in telecommunications and related industries, including as head of the telecom investment banking group at Bear Stearns Cos. from 1993 to 1998. Roberts also was director of finance at Baring Vostok Capital Partners, a Russian private equity firm, and a managing director at Blackstone Group. Justin Jacobs, principal, was formerly an analyst at Blackstone Group from 1996 to 1999 and vice president at LiveWire Capital, a venture capital firm that targets technology and telecommunications, from 1999 to 2004. Charles Goldman, managing director, earlier focused on investments in technology and communications as a principal at J.P. Morgan Partners.
Lynch and the other partners had been investing their own money before raising their own fund. They are also significant investors in the fund. Triago, a Paris, France-based fund placement agency, helped raise the pool. So far, the firm as made more than 12 investments, according to our source.—B.V.