Constitution Capital Partners

What Constitution Capital Partners does

Constitution Capital Partners (CCP), a Boston-area private equity firm founded in 2008, is a fund-of-funds and direct co-investment manager focused exclusively on North American middle-market private equity and private credit. The firm manages approximately $7.5 billion in assets under management across 23 funds, serving 880+ limited partners spanning institutional investors, family offices, and high-net-worth individuals in North America, Europe, and Asia. CCP has realized $6.2 billion back to investors since 2008 and its leadership team has executed more than 400 investments across multiple market cycles.

The firm's product platform comprises four strategies: (1) Private Equity Partnership Investments, a fund-of-funds approach providing diversified exposure to leading middle-market PE managers; (2) Private Equity Co-Investments, direct equity participation alongside institutional sponsors for enhanced returns and fee efficiency; (3) Private Credit, providing debt financing solutions to middle-market companies; and (4) the Constitution Capital Access Fund (CCAF), an evergreen vehicle offering continuous subscription and liquidity features. CCP operates from a headquarters in Andover, Massachusetts and a New York City office opened in 2017, distributing all offerings through private placement exclusively to qualified investors via direct relationship management.

CCP generates revenue through two standard alternative-asset-management streams: recurring management fees calculated as a percentage of committed or invested capital across its fund platforms, and performance-based carried interest earned when fund returns exceed specified hurdle rates. The firm does not publicly disclose pricing; investment opportunities are offered only to qualified investors through confidential offering memoranda. With 69 professionals (including 6 partners), CCP has selectively expanded its team over time through internal promotions (e.g., Volpe and Carlman to VP in 2023) and targeted hires, including the 2017 additions of Daniel Clare (Partner, New York) and the credit team (Shekane, Williams) that enabled the private credit expansion.

Name

Constitution Capital Partners

Legal name

Constitution Capital Partners, LLC

Website

https://concp.com

Company type

Private

Founded year

2008

Operating status

Operating

Headcount range

51–100 employees

Short description

Constitution Capital Partners is a Boston-based private equity and private credit firm managing $7.5B across 23 funds, serving 880+ institutional, family office, and high-net-worth LPs through middle-market PE fund, co-investment, credit, and evergreen CCAF strategies.

Ownership category

akta.pro rank

Product category

Private Equity Asset Management

NAICS

Portfolio Management and Investment Advice (523940), Other Financial Investment Activities (5239)

SIC

Miscellaneous Business Credit Institution (6159)

akta.pro primary industry

Private Credit / Direct Lending (FSAAAHAG)

akta.pro secondary industry

Large-Cap / Sponsor Finance Direct Lending (FSANADAJ)

Keywords

• Private equity management
• Middle market investing
• Private credit funds
• Co-investment strategies
• Alternative asset management

Headquarters

HQ city

Andover

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Management Fees: Charges management fees on assets under management across its private equity and private credit fund platforms. Management fees are typically calculated as a percentage of committed capital or invested capital.
2. Carried Interest: Earns performance-based carried interest (carry) from fund investments when returns exceed specified hurdle rates, aligning manager and investor interests.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

Constitution Capital Partners is a private equity asset manager that invests as a limited partner in lower-middle-market and middle-market buyout funds, makes direct equity co-investments alongside sponsor partners, and offers private credit solutions. The firm also operates the Constitution Capital Access Fund (CCAF), an evergreen private equity vehicle sub-advised by the firm, providing investors diversified exposure to underlying private equity partnerships and co-investments.

Product overview

Constitution Capital Partners is a private equity and private credit investment firm offering three core products: (1) Private Equity Partnership Investments as a fund-of-funds manager providing access to leading middle market PE funds; (2) Private Equity Co-Investments for direct equity participation alongside institutional sponsors; and (3) Private Credit for debt financing solutions to middle market companies. The firm also manages the Constitution Capital Access Fund (CCAF), an evergreen vehicle that consolidates these strategies into a single, continuously-offered vehicle with enhanced liquidity features for investors seeking diversified middle market exposure.

Differentiator

Problem solved

Functional benefit

Brands

• Constitution Capital Access Fund (CCAF): An evergreen fund structure offering diversified exposure to North American alternative investments
• Ironsides

Products and services

• Private Equity - Partnership Investments Limited partner commitments to private equity buyout funds, targeting lower-middle-market and middle-market sponsors with a value-oriented approach and broad portfolio diversification. Aimed at institutional and qualified high net worth investors seeking fund-based private equity exposure.
• Private Equity - Co-Investments (Direct Equity) Direct equity co-investments made alongside sponsor partners, providing access to negotiated private equity transactions at reduced fee levels. Designed for institutional and qualified high net worth investors seeking concentrated single-deal exposure with sponsor alignment.
• Private Credit Private credit investment solutions offering exposure to senior secured loans and other privately originated credit instruments, leveraging the firm's dedicated credit team. Targeted at institutional and qualified investors seeking income-oriented private market exposure.
• Constitution Capital Access Fund (CCAF) Evergreen private equity fund of funds (with a sub-trust) sub-advised by Constitution Capital Partners, offering investors diversified exposure to underlying private equity partnerships and co-investments in a single, continuously offered vehicle. Aimed at investors seeking simplified, diversified private equity access without managing multiple fund commitments.

Quantifiable outcome

• $6.2 billion returned to investors since 2008

Named customers1 record

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators10 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Hamilton Lane: Hamilton Lane is one of the largest private markets investment firms, managing fund-of-funds, co-investment, and secondary strategies across private equity and private credit. Like CCP, it intermediates LP capital into middle-market and large-cap PE deals via direct co-investments and fund partnerships, and serves institutional and private wealth clients — making it a direct comparable in the PE FoF/co-invest business model.
• Franklin Park: Franklin Park is a PE fund-of-funds and secondary advisory firm focused on providing institutional and family office investors diversified access to private equity. Its fund-of-funds construction philosophy, LP base, and middle-market orientation closely parallel CCP's partnership investment strategy.
• Grosvenor Capital Management: Grosvenor is a large alternatives-focused asset manager with significant private equity fund-of-funds and co-investment capabilities serving institutional and HNW investors. It is highly comparable to CCP in business model — multi-strategy alternatives, fund partnerships, co-investments, and custom solutions.
• Axiom Investors: Axiom Investors is a private equity co-investment manager focused on partnering with middle-market sponsors, with a model highly analogous to CCP's co-investment program. Both firms sit alongside PE sponsors in middle-market buyouts as preferred co-invest capital partners.
• Capital Constellation: Capital Constellation is a private equity co-investment firm that pools capital from institutional investors to make direct minority co-investments alongside sponsors — the same core co-investment intermediation model that drives CCP's deal activity.
• StepStone Group: StepStone Group is a global private markets investment firm focused on fund-of-funds, co-investments, and secondaries across PE, private credit, real estate, and infrastructure. Its PE co-invest and fund-of-funds offerings are directly comparable to CCP's partnership and co-investment strategies.

Emerging players

• 73 Capital: 73 Capital is a smaller, emerging co-investment specialist focused on lower middle-market buyouts alongside sponsors. It competes with CCP for co-invest allocations and LP capital in the lower middle market but operates at a smaller scale.
• iCapital Network: iCapital is a financial technology platform that provides HNW investors and advisors access to private equity, private credit, and hedge fund strategies — including the Constitution Capital Access Fund. As a distribution and structuring platform, it overlaps with CCP's private wealth/Access Fund channel.

Broad incumbents

• Blackstone Private Equity Partners: Blackstone operates a large PE fund-of-funds and co-investment platform (Private Equity Partners) within its broader alternatives franchise. While significantly larger and broader in scope, it competes with CCP for the same LP dollars and PE co-invest allocations.
• PineBridge Private Equity: PineBridge Investments operates a private funds group offering private equity, private credit, and co-investment products to institutional and HNW investors globally. It is a broad incumbent alternative asset manager with overlap to CCP's multi-product alternatives strategy.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/constitution-capital-partners

Revenue estimate

Valuation estimate

Number of profiles

Profiles14 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments2 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Constitution Capital Partners