Physical Address
304 North Cardinal St.
Dorchester Center, MA 02124
Adam Palmer remembers in March 2021 and Brooke Coburn will only meet potential investors from the house outside Washington DC. Palmer and Coburn had left security and success Carlyle Group To start private capital firms in the middle of Covid-19, employees for most companies are still working from home.
“No one was in the office. The world was closed,” said Palmer.
Palmer’s dining room will sit on the table, and they will sit around Coburn and talk to the plans to build a private capital, employees and consultants. There was still no name, but the company will invest in companies and products that protect both men and women and women. Fortunately, it was mild outside, so they kept the windows open.
“It was awesome and terrible and rejuvenated” said Palmer Fortune.
It took about a year, but as a result, the Capitol Meridian partners received an office. In March 2022, the PE company opened its doors on the street on the street in Washington, Capitol Meridian now has 14 employees. 10 of them, including Palmer and Coburn, worked in the Carlyle Group at some points in the earlier career.
Capitol Meridian is part of a part of PE firms that focus attention Special sectorsDeveloping deep expertise and networks to understand unique problems and opportunities with this industrial face. Sector experts often prefer to generalist firms. Capitol targets defense and government services. Provides national security, as well as aerospace market to companies providing firmware, software and service companies. Timing could not be better. In the last three years and in the first quarter, social aerospace and defense companies have largely gained a wide market information From Greenwich Capital Group from the investment bank. Aerospace Suppliers increased by 108.7% to March 31, 32.8% to 32.8%. This compares with S & P 500, which earned 23.9% for the same period Half Increased by 22.4%.
In the senses, many of this and the latest in Russia in 2022 due to geopolitical issues such as Ukraine’s occupation to Ukraine US attack He benefits from Iran’s nuclear sites to defensive companies and their investors. Greater PE firms as a Veritas capital, which targeted as one of its sectors as one of its sectors and the national security of aerospace and national security. Hip accumulated More than $ 13 billion for the Ninth Foundation earlier this year. “More investors are interested in defense than in my memory today,” Palmer said.
Capitol Meridian does not invest in high schools such as windshable shotguns. “It’s not the place we focus,” said Palmer.
Instead, “nations and warriors or Capitol Meridian bets to enterprises who support women and women and women and women and women,” said Palmer. Although there was no military service, his father was a resistant in Vietnam while serving his grandfather II in World War II.
In 2024, Capitol Meridian wiped a difficult fundraising market lift $ 900 million for the first pool and joint investment $ 300 million. Palmer and Coburn are the third largest investors in the pool. Capitol Meridian has so far distributed to six portfolio companies along with 20 additional deals. Palmer’s said a speech. According to him, it is still early in the country with the oldest investment for the company.
Defense is usually not a sector in Matt Autrey, which is a partner of the first fund of the Capitol Meridia, due to the change of priorities to new applicants or generalist investors, government spending. “Adam and Capitol Meridian team managed to invest in the defense sector according to the special experiences and networks they own in the space,” he said.
Hired breakfast
Palmer has a long history, more than 25 years, defense and aerospace investment. In the mid-1990s, a Lehman Brothers Financial Analyst working on some deals for Carlyle, it was also a Washington DC private capital company known for political ties. (George W. Bush sat on board one of the portfolio companies).
Bill Conway, one of the CarLY Coffodarters, hired Palmer to combine solid in a breakfast session. A paragraph offered letter received the days later. Palmer was only 22 years old. “It was a different world then,” he said.
Carlyle’de Palmer’s first pediad was $ 750 million handmade United Defense Industry, Warriors Manufacturer, Maritime Weapons and Rocket Launchers, in 1997, in 2001, in 2001, and in 2004 more than $ 1 billion in 2004 gain. United defense is considered one of the best and most notable early investments in Carlyle. The deal also crystallized Palmer’s ambitions. He was very rewarded for investment in enterprises who supported the nation and the US military and women. ”
Carlyle’s Maritime Ship Repair Company in 2019 includes the acquisition of Titanium in 2019 in 2019, which was acquired by the capital in 2019. In 2000, Carlyle collapsed the plane and sold him a decade after a decade. Palmer’s deal was so noteworthy that he was inside him in 2010 Fortune‘S’40 to 40 years of age,“Where there are one day the lead to the lead to be Carlyle. Next year was Palmer named Carlyle’s GLOBAL Aerospace and Defense Sector Team title.
PE or alternative asset manager?
Despite the achievements of Palmer, the work in Carlyle changed. In the 1990s, Carlyle was a secondary market company known for defensive deals. Carlyle, like many pionering pe firms, each successfully grew up. Gone public Lifted in 2012 The largest stock ever ($ 18.5 billion) in 2018 and began to invest in sectors outside private capital. He also began to call himself “Alternative Asset Manager.”
Carlyle, in the 2000s, began to invest in consumers, health, industrial and technology more than defense. Palmer and Coburn, who called CIO’s deputy CIO for real assets, did not pay attention to Carlyle’s “elephant hunt” style to invest less and larger transactions.
In the early 2021, Palmer and Coburn learned that Carlyle had to grow and leave another average market fund. They decided not to start a carlyle clone, a new, small firm, which will return them to the middle market roots. The Palmer’s middle market identifies as deals below $ 1 billion. “The best income in this sector, the opportunity for defense and national security is the average market,” he said.
Although geopolitical tensions remain high, the Capitol is expected to approach the fundraising market for the second pool of Meridia. About 60% of the first fund was invested. (PE firms usually start marketing when a fund is invested in about 70%.)
Fundraising is still difficult. Fight several large PE companies to raise funds. Carlyle closed According to him, its eighth flagship is $ 14.8 billion in 2023, below $ 22 billion Shopping. Tpg The previous fund is looking for $ 13 billion for the latest flagship he is looking for in his previous fund Wall Street Journal declare In May. Black stone It was expected to close the latest flagship in mid-2023, but until this year before the pool was a little over $ 21 billionmuch of his start $ 30 billion target.
Capitol Meridian is expected to look for more than $ 1 billion for the next pool, a man familiar with the situation. Palmer refused to comment.
Palmer has still started the Capitol Meridian a few years ago, the dining room is located in the company’s office. The purposes for the capitol remain simple. “We want to be the best small PE partnership to help us with serving.”
