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Mill Point Capital closes on $450M for 1st institutional fund

Mill Point Capital LLC said its first institutional fund closed at its hard cap of $450 million, according to a news release published on The PE Hub Network.

The Mill Point Capital Partners LP fund was oversubscribed and drew strong support from global investors, including endowments, foundations, corporate and state pension plans, family offices, gatekeepers, sovereign wealth funds, insurance companies and funds of funds.

The New York City-based private equity firm, which was founded by former Ripplewood Holdings executive Michael Duran, focuses on control-oriented investments in middle-market business services firms and industrial companies.

Acalyx Advisors Inc. was the sole placement adviser.