Fundraising expert Beth Rahn, the former principal and head of family capital at McNally Capital and an advocate for women in private equity, has started a new firm.
Rahn launched New Era Advisors as managing partner earlier this year, according to her LinkedIn profile. Her profile describes her fundraising, investor relations and business development skills, as well as her advocacy of “gender equity through capital allocation.”
More details about New Era Advisors such as services, location and hiring plans were not immediately available. Rahn, whose profile places her in Washington, D.C., could not be reached by press time.
The Firm: McNally Capital is a Chicago-based multi-family office led by Founder and Managing Partner Ward McNally, whose family previously owned map publisher Rand McNally & Company. With a team of about 15 members and five senior advisors, the firm makes control equity investments in companies held by founders, families or management. It managed more than $500 million in AUM as of 2022, the same year it closed its private equity McNally Capital Fund II LP and related co-investment pools with more $150 million.
Responsibilities: For roughly a decade Rahn worked at the firm, most recently managing its network of some 800 family offices. Rahn focused on “harnessing the financial, intellectual and human capital of the family office ecosystem to support McNally’s Direct Investing and Merchant Banking efforts,” according to her bio. She earlier worked as a senior associate of investor relations for Sterling Partners.
Passion for Diversity: Rahn, a member of the Private Equity Women Investor Network (PEWIN), was profiled by law firm McGuireWoods in 2020 about women in PE and later spoke on a 2022 Fund Flow podcast about the emerging manager market. Rahn argued for more diversity in private equity.“There are so many studies that have shown this correlation between hiring more women in the executive suite and generating increased profitability…It’s great for all of the investors,” Rahn said.
Recent Hiring: Late last year, McNally Capital hired Nicole Henderson, a former vice president of institutional sales at placement agency Far Hills Group, to serve as head of fundraising and investor relations. It also hired Tyler Ashley, a former vice president at buyout firm Excellere Partners, to serve as head of business development. It was unclear if their hirings were related to Rahn’s departure.
Investment Strategy: McNally Capital invests in aerospace and defense, industrials and business services companies that generate about $5 million to $20 million in EBITDA. Portfolio companies include security specialists such as Altamira Technologies Corporation and Xcelerate Solutions. McNally Capital recently announced it had completed the sale of analyzers and technology firm Advanced Micro Instruments to industrial technology firm Enpro Inc.