Irving Place Capital, formerly known as Bear Stearns Merchant Banking (BSMB), is an American private equity firm focused on leveraged buyout and growth capital investments in middle-market companies in the industrial, packaging, consumer and retail industries. Based in New York City, it has total committed capital across its funds of $5.9 billion. The firm's predecessor Bear Stearns Merchant Banking was founded in 1997 by John D. Howard, formerly a co-founder of Vestar Capital Partners. The group completed its separation from Bear Stearns' owner JPMorgan Chase in 2008. Investments Since inception, Irving Place Capital and its predecessor, Bear Stearns Merchant Banking has made a number of investments in notable companies in the retail, consumer products, healthcare, energy, financial and business services, packaging and industrial sectors. Among the firm's most notable investments are the following (separated by the private equity fund from which the investment was made: Fund I - Aéropostale, Integrated Circuit Systems (), NRT Incorporated, Safety 1st (), Standard Hotel Fund II - CamelBak Group, Multi-Packaging Solutions, New York & Company, Reddy Ice, Seven for All Mankind (jeans), Stuart Weitzman and Vitamin Shoppe. Fund III - Aearo Technologies, Cabi, Caribbean Financial Group, Chesapeake Packaging Chromalox, Ironshore, Mold-Rite Plastics, Pet Supplies Plus, PlayCore, Rag & Bone, Universal Hospital Services, and Victor Technologies. Fund III SPV - Dynojet Research, and Ohio Transmission Corporation. History 1997 - 2008 In 1997, John D. Howard was hired by Bear Stearns to launch a new private equity and merchant banking effort for the investment bank. Prior to joining Bear Stearns, Howard had been senior vice president of Wesray Capital Corporation and later co-founded Vestar Capital Partners in 1988. In 1998, Bear Stearns Merchant Banking raised its first fund with $200 million of investor commitments. In 2001, Bear Stearns Merchant Banking completed fundraising for its second fund with $1.5 billion of investor commitments including a $500 million commitment from Bear Stearns. In 2006, Bear Stearns Merchant Banking raised its third fund with $2.7 billion of investor commitments. Spinout Into Independent Firm Through the intervention of the Federal Reserve and other US Government agencies, Bear Stearns agreed to a sale of the company to JPMorgan Chase on March 24, 2008, which was completed on May 30, 2008. Following the closing of this transaction, Bear Stearns Merchant Banking became a part of JPMorgan Chase. On November 1, 2008, Bear Stearns Merchant Banking completed a spin out from JPMorgan Chase