New State Capital Partners Launches Innovative Investment Strategy
New State Capital Partners, a specialist in the lower middle market, has recently introduced Forge Select. This dedicated strategy focuses on non-control investments while partnering with leading independent sponsors. With this launch, New State aims to strengthen its position in the independent sponsor market, expanding its capacity to work closely with these groups.
Empowering Independent Sponsors
New State has actively participated in the independent sponsor ecosystem since its inception. Over the years, it has built trusted relationships with over 1,000 independent sponsors and successfully completed numerous transactions in collaboration with them. As the market has grown, many renowned spinouts have opted to invest on a case-by-case basis while developing institutional platforms. Forge Select is a response to this evolving landscape, designed to provide non-control capital while preserving the affiliation of sponsors.
Leadership Team Expansion
To lead the Forge Select team, New State has appointed Sanjay Gupta as Senior Principal. He brings over 20 years of robust investment experience across various sectors, including primary investments, co-investments, and secondaries. Before joining New State, Sanjay was the Chief Investment Officer at Moonfare and held prominent roles at companies like UBP and Adveq.
Alongside him, John McGonigle has joined as Vice President, contributing nearly a decade's worth of private equity investment experience. John previously worked at Gatewood Capital Partners, where he focused on emerging managers and helped founders build sustainable platforms.
A Vision for the Future
Sanjay Gupta expressed his enthusiasm for leading the Forge Select initiative, having served as a senior advisor to New State for more than seven years prior to his new role. He commented on the increasing significance of independent sponsors in the private equity landscape, emphasizing that Forge Select is designed to align with their operational needs today.
John Kim, Senior Principal at New State Capital Partners, noted the firm's commitment to nurturing long-lasting relationships with sponsors and the anticipated growth of the market, marking this as an opportune time for the new team and strategy.
Investment Philosophy
New State Capital Partners has maintained a consistent investment approach focused on lower middle market businesses for over a decade. Forge Select is a natural extension of that strategy, emphasizing a disciplined partnership-oriented focus.
About Forge Select
Forge Select represents New State Capital Partners' unique non-control investment strategy, tailored to support established independent sponsors. By providing capital alongside operational resources and relationships, Forge Select aims to empower these sponsors through strategic market introductions.
About New State Capital Partners
New State Capital Partners prides itself on being an agile and entrepreneurial firm. They work closely with company founders and independent sponsors to devise flexible capital solutions that foster enduring relationships. With roughly $2 billion in assets under management and a dedicated team of over 35 professionals, the firm has successfully completed more than 45 investments to date.
Frequently Asked Questions
What is Forge Select?
Forge Select is a new strategy from New State Capital Partners focused on non-control investments, partnering with independent sponsors.
Who leads the Forge Select team?
Sanjay Gupta serves as the Senior Principal leading the Forge Select team, supported by John McGonigle as Vice President.
What experience does Sanjay Gupta bring to New State?
Sanjay Gupta has over 20 years of investment experience, having held significant roles at Moonfare, UBP, and Adveq.
How does New State Capital Partners support independent sponsors?
They provide capital, operational support, and strategic introductions to key market players to foster growth.
What is New State's overall investment philosophy?
New State focuses on creating partnership-oriented and disciplined investment strategies for lower middle market businesses.
