Irving Place Capital (fka BSMB)

Irving Place Capital, originally founded in 1997 as Bear Stearns Merchant Banking (BSMB), is a New York-based private equity firm. The firm was established by John D. Howard to lead merchant banking efforts for Bear Stearns and successfully raised several billion dollars across multiple funds during its first decade. Following the acquisition of Bear Stearns by JPMorgan Chase in 2008, the group completed a spin-out to become an independent firm rebranded as Irving Place Capital.

The firm specializes in middle-market investments, particularly within the industrial, packaging, consumer, and retail sectors. It utilizes strategies such as leveraged buyouts and growth capital to build value in its portfolio. In 2015, the firm further evolved by closing a $1.5 billion special purpose vehicle to provide liquidity and continued support for its existing investments. More recently, the firm has seen leadership transitions, including a 2019 spin-out of its industrial-focused team to form Radial Equity Partners.