Adam Spence, who headed co-investments and the New York office at Partners Capital, has left the $75 billion-plus investment firm after nearly eight years to launch Spence & Company, an independent private equity firm targeting defense and critical supply-chain companies.
Spence left Partners Capital in August and launched New York City-based Spence & Company this month, according to his Linkedin profile. The 52-year-old private equity veteran plans to pursue two to three deals a year, generally assembling $25 million to $100 million of equity for lower-middle-market and middle-market investments.