Medical Mutual Holdings’ Wealth and Asset Management Affiliate Announces Final Closing of Private Equity Investment in Raleigh-Based Waste Industries
Raleigh, NC – December 5, 2017 – SharpVue Capital, LLC, the wealth and asset management affiliate of Medical Mutual Holdings, Inc., today announced the final close of its first private equity investment, SharpVue WI Partners, LP. The partnership, which raised $13 million in commitments, was formed for the sole purpose of making a minority investment in Waste Industries, one of the nation’s largest providers of non-hazardous solid waste collection, transfer, recycling, and disposal services. With this new investment, an affiliate of SharpVue Capital has acquired a non-controlling interest in the Raleigh-based waste company.
As the parent company of SharpVue Capital, Medical Mutual Holdings participated in the investment, alongside a group of leading private equity fund sponsors and institutional investors as well as qualified Medical Mutual members and family offices.
“We’re extremely pleased to have provided qualified individuals access to this type of deal, a co-investment opportunity typically only available to institutional investors,” said Matthew H. Mongia, Managing Director of SharpVue Capital. “This deal demonstrates our commitment to delivering differentiated solutions to our clients across all of our asset management strategies and wealth management services.”
Waste Industries currently operates in seven states within SharpVue Capital’s target geography that are, on average, expected to experience higher population and economic growth than other parts of the country, according to forecasting by Moody’s Analytics. The company also has an experienced management team that has led the organization to consistent financial performance over its more than forty years in business.
The deal represents SharpVue Capital’s flexible approach to pursuing attractive and risk-adjusted returns through investing opportunistically in private companies and complements the firm’s existing real estate strategies and comprehensive wealth management services.
About Waste Industries
Waste Industries is a regional provider of non-hazardous solid waste collection, transfer, recycling and disposal services founded in 1970. The company currently operates in North Carolina, South Carolina, Georgia, Tennessee, Virginia, Maryland and Delaware and employs roughly 2500 people across the East Coast.
About SharpVue Capital
Founded in 2016 and headquartered in Raleigh, NC, SharpVue Capital provides comprehensive asset and wealth management services to physicians, other high-net-worth individuals, and institutions. SharpVue Capital’s investment platform includes strategies encompassing real estate, private equity, and wealth management. SharpVue Capital is an affiliate of Medical Mutual Holdings, Inc., one of the nation’s largest providers of medical professional liability insurance and other services for physicians and medical practices. For more information, please see www.sharpvuecap.com.
About Medical Mutual Holdings
Medical Mutual Holdings, Inc., is one of the nation’s largest providers of medical professional liability insurance, wealth and asset management, and other services for physicians and medical practices. Its subsidiary Medical Mutual Insurance Company of North Carolina protects nearly 13,000 physicians and has been rated "A" (Excellent) by A.M. Best for 14 consecutive years. SharpVue Capital, another subsidiary, offers wealth and asset management to physicians, other medical professionals, and institutional investors.
This is not an offer to sell, or a solicitation of an offer to purchase an interest in any investment fund or for the provision of any investment management or advisory services. Such an offer will be made only by means of a confidential private offering memorandum relating to a particular fund or investment management contract and only in those jurisdictions where permitted by law.
This material is not financial advice. It should not be assumed that any of the transaction or holdings discussed were or will prove to be profitable, or that the investment recommendations or decisions we make in the future will be profitable.
SharpVue Capital is a registered investment adviser. Registration does not imply a certain level of skill or training. More information about SharpVue Capital including its advisory services and fee schedule can be found in Form ADV Part 2 which is available upon request.