MidOcean Partners
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| Private Ownership | |
| Industry | Private Equity |
| Founded | February 2003 |
| Founder | Ted Virtue |
| Products | Private equity funds, Leveraged buyouts |
| Total assets | $3.5 billion |
| Website | www.MidOceanPartners.com |
MidOcean Partners is an American private equity firm specializing in leveraged buyouts, recapitalizations and growth capital investments in middle-market companies. The firm has historically focused on investments in middle market companies in four core industries including business services; consumer and leisure companies, media and niche industrial services.
The firm, founded in February 2003, is based in Midtown Manhattan, New York City, with an office in London and more than 20 investment professionals globally. MidOcean was originally formed by the managers of DB Capital Partners to acquire Deutsche Bank's late stage private equity investments in the United States and Europe in one of the largest private equity secondary transactions completed to date.
MidOcean Partners was formed through a management spinout transaction. A group of investors provided capital to the managers of DB Capital Partners, led by MidOcean CEO Ted Virtue, to acquire the portfolio of private equity investments they had managed at Deutsche Bank. Among the investors in the transaction were NIB Capital Private Equity (today AlpInvest Partners), HarbourVest Partners, Paul Capital Partners, Coller Capital, Ontario Teachers' Pension Plan and CPP Investment Board, with investments from Northwestern Mutual, The Yucaipa Companies and Presidential Life. The management spinout of MidOcean, at the time valued at €1.5 billion (over $1.8 billion) was then and is still one of the largest transactions completed in the private equity secondary market.
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