New York Life closes mezzanine fund with $980 million of commitments

By Ashley Montgomery

Kansas City, Kan., April 3 - New York Life Capital Partners has closed its third mezzanine fund, Nyclap Mezzanine Partners III, LP, with $980 million of commitments, according to a news release.

The fund closed March 30. Like its predecessors, it will offer funds to private equity groups to acquire middle market companies.

"We are very grateful for the show of support we received from investors and are confident that our strategy of investing in the middle market, with longstanding sponsor relationships, will continue to deliver strong results," Thomas Haubenstricker, chief executive officer of New York Life Capital Partners, said in a news release.

The New York-based private equity asset manager is an affiliate of New York Life Investments.

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