- The fund’s limited partners were not disclosed
- Kirkland & Ellis LLP served as legal counsel to the fund
- McNally has over $500 million in total assets under management
McNally Capital has raised over $150 million for its new private equity fund. McNally Capital Fund II will invest in the lower middle market with a focus on the aerospace & defense, industrial products & services, and business services industries.
The fund’s limited partners were not disclosed.
Kirkland & Ellis LLP served as legal counsel to the fund.
“Our family business background and decades of experience offer a differentiated model for founders and management owners to partner with like-minded investors,” said Ward McNally, managing partner and founder of McNally Capital, said in a statement. “Our unique ‘walked in your shoes’ approach resonates with business owners and enables us to offer industry and operating expertise that supports the long-term growth of our investments.”
McNally Capital has already completed the first two investments out of McNally Capital Fund II with the acquisitions of Orbis Operations and Smith & Oby.
The firm has over $500 million in total assets under management and now has 15 investment and operating professionals to support its growth.
McNally Capital targets businesses with $5 to $30 million in EBITDA.