Founded in 1994, Fenway Partners is a middle-market, leveraged buyout firm, with $2.1 billion in capital under management and offices in New York and Los Angeles. Fenway invests in profitable niche businesses with $100 million to $600 million in enterprise value, maintaining a strong focus in two sectors: consumer branded products and transportation/ logistics/ distribution. In 2007 Fenway raised Fund III at $702 million. The firm makes control investments in profitable businesses with $15M to $75M in EBITDA. The firm's equity investments generally range from $50M to $75M and its expected investment horizon is four to six years.