Business Description

New York Life Capital Partners LLC ("NYLCAP") manages over $5.0 billion^[1] of private equity assets, including direct equity, direct mezzanine, and limited partnership investments.  As an affiliate of New York Life Investment Management, NYLCAP manages alternative assets for New York Life Insurance Company, its affiliates and other institutional investors.

NYLCAP, together with its predecessor organizations, began investing in private equity partnerships in 1984 and has been an active, direct private equity investor since 1991 when John Schumacher and Adam Clemens (the “Founding Principals”) took over the program.   Since 1991, the Founding Principals have overseen a dramatic increase in the NYLCAP private equity portfolio, with assets under management growing from $400 million in 1991 to $5.7 billion^[1] as of December 31, 2007 and the investor base growing from one institutional client to twenty-seven.

NYLCAP’s partnership investment philosophy for the past sixteen years has been to create a focused portfolio of key relationships with top-performing financial sponsors utilizing a “Core Partner” strategy.  NYLCAP’s Core Partner strategy is based on identifying top performing financial sponsors who have a demonstrated expertise within a target area of investing and a definable value-added approach to their portfolio companies.  The Core Partner strategy involves a proactive and comprehensive review of a wide spectrum of general partners and has led to NYLCAP’s early identification of many leading private equity firms over the last sixteen years.  NYLCAP’s strategy also creates high-quality, proprietary deal flow for its managed equity co-investment and mezzanine funds.

The NYLCAP investment team represents one of the most experienced and well-respected groups in private equity.   NYLCAP’s six managing principals (the “Managing Principals”) have over 120 years of collective investment experience and an average tenure at New York Life of over 14 years. The Managing Principals are personally responsible for the strong performance of the track record across all of NYLCAP’s private equity programs.   As of August 2008, NYLCAP has 41 employees including 18 investment professionals and 23 dedicated accounting, legal and administrative staff members.  The NYLCAP team is solely dedicated to investing in private equity partnerships as well as direct equity and mezzanine investments.