Chicago-based Merit Capital Partners (“Merit”) is pleased to announce the final closing and activation of its seventh fund (“Fund VII”). Merit reached its $550 million Fund VII target with strong support from its long-time limited partners, as well as a number of new investors. Fund VII received commitments from a variety of limited partners, including insurance companies, state pension funds, university endowments, fund-of-funds, and family offices. The new fund was activated on August 1, 2021, and has closed on three platform investments to date.
In addition, Merit is delighted to announce three promotions and one new hire made effective at the beginning of 2022. Joe Polaneczky was promoted to Managing Director, John Darguzas to Principal, and Brian Heck to Senior Associate. Each of these professionals has made meaningful contributions to the firm and our portfolio, and Merit is proud of its history of internal promotions and the long-tenure of its team. We’d also like to announce the addition of Armando Avila who joins Merit as an Associate. Our team looks forward to many years of continued success.