Willis Stein & Partners

Willis Stein & Partners was founded in 1995 by John Willis and Avy Stein, both former executives of Continental Illinois Venture Corp. (CIVC). Following the acquisition of Continental Illinois by Bank of America in 1994, the pair departed to launch their own venture, quickly securing over $300 million in investor commitments for their first fund. The firm was headquartered in Chicago and primarily targeted middle-market companies.

Throughout its history, the firm raised three private equity funds totaling nearly $3 billion in capital. Willis Stein was notably active in the publishing and consumer goods sectors, and also gained a reputation for acquiring and consolidating for-profit educational institutions. Despite initial success, the firm faced mixed results with its 2000 vintage fund, leading to a long hiatus before attempting to raise a fourth fund in 2008. The firm ultimately wound down its operations in 2012.