CHICAGO--(BUSINESS WIRE)--McNally Capital (“McNally”) is pleased to announce the final closing of its inaugural private equity fund, McNally Capital Fund II, LP (the “Fund”). McNally Capital has raised over $150 million from limited partner fund commitments and related co-investments. The firm has over $500 million in total assets under management (“AUM”) and now has 15 investment and operating professionals to support its growth.
“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. “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. Through the Fund, the firm will continue its differentiated investment strategy of investing in founder-, family-, and management-owned companies in the lower middle market, with a focus on the aerospace & defense, industrial products & services, and business services industries.
“We are grateful for the partnership with our limited partners in the Fund, who support our strategy of combining the best of institutional capabilities and sophistication with family values. We are excited to continue producing exceptional returns through leveraging our global network of over 800 family and institutional investors to build value for our portfolio companies,” said Beth Rahn, Principal and Head of Family Capital at McNally.
McNally Capital’s thesis-driven approach targets U.S.-based businesses that are seeking a like-minded partner. The firm is focused on lower middle market businesses with $5 to $30 million in EBITDA and is currently prosecuting the following investment theses across its core industries of focus: national security & intelligence, facilities management, and water.
Kirkland & Ellis LLP served as legal counsel to the Fund.
About McNally Capital
McNally Capital is a private equity firm targeting thesis-driven investments in the U.S., specifically founder-, family-, and management-owned companies. Founded by the McNally family, who owned and operated Rand McNally & Company, we are dedicated to upholding a 160+ year legacy as a family-owned and operated company. The McNally family remains one of our investors today. Our family business background and family capital network provide both industry and operating expertise as well as a “walked in your shoes” approach that management teams value in a partnership. Our limited partners are made up of like-minded family offices and institutional investors who value Direct Family Capital – where institutional capabilities meet family values. For more information, please visit: www.mcnallycapital.com.