Primary Fund Placement

New State Capital Partners Forms Fund IV

6291 PCA New State Capital Partners NT

Private Capital Advisory Engagement Overview

Harris Williams advised New State Capital Partners, a New Rochelle, New York-based private equity firm focused on investing in founder-owned middle-market services companies, on the closing of their Fund IV. The fund exceeded its target and was over-subscribed, raising $700 million and closing the fundraise process in less than six months. The General Partner committed $60 million.

New State is widely recognized for their commitment to delivering outstanding results through their long-term outlook and intensive value creation methods. We are honored to have had the opportunity to work with New State on this successful fundraise.

New State’s 34-person team includes 12 management company partners and a dedicated 10-person in-house operations team, ensuring a hands-on approach to driving portfolio company growth. Through their differentiated sourcing model, New State has strong relationships with the independent sponsor community, allowing them to identify attractive investment opportunities and partner with founders in an effort to create long-term, lasting value.

New State received strong support from both existing and new investors across North America and Europe. The investor base includes endowments and foundations, family offices, public pension plans, insurance companies, OCIOs, and high-net-worth individuals.

Harris Williams is a global investment bank specializing in M&A and private capital advisory services. Clients worldwide rely on us to help unlock value in their business and turn ambitious goals into reality. We approach every engagement with boundless collaboration, pooling expertise and relationships across industries and geographies. For over 30 years, our clients have trusted us to think strategically, execute precisely, and deliver superior outcomes to help them grow.


Harris Williams LLC is a registered broker-dealer and member of FINRA and SIPC. Harris Williams & Co. Ltd is a private limited company incorporated under English law with its registered office at 13th floor, One Angel Court, London EC2R 7HJ, UK, registered with the Registrar of Companies for England and Wales (registration number 07078852). Harris Williams & Co. Ltd is authorised and regulated by the Financial Conduct Authority, number 5408952. Harris Williams Private Capital Advisory Ltd. is an Appointed Representative of Sturgeon Ventures, LLP, which is authorised and regulated by the Financial Conduct Authority number 452811. Harris Williams & Co. Corporate Finance Advisors GmbH is registered in the commercial register of the local court of Frankfurt am Main, Germany, under HRB 107540. The registered address is 16th Floor, Marienturm, Taunusanlage 9-10 60329, Frankfurt am Main, Germany (email address: hwgermany@harriswilliams.com). Geschäftsführer/Director: Paul Poggi, VAT No. DE321666994. Harris Williams is a trade name under which Harris Williams LLC, Harris Williams & Co. Ltd and Harris Williams & Co. Corporate Finance Advisors GmbH conduct business.