Sentinel Capital Partners, L.L.C. is an American private-equity firm focusing on mid-market companies in the United States and Canada. The company is headquartered at One Vanderbilt Avenue in New York City and was founded in 1995 by David Lobel and John McCormack, who previously worked together at Smith Barney's private equity affiliate, First Century Partners. Since its founding, Sentinel has raised more than $11.2 billion of capital.
Operations
Sentinel makes majority-ownership investments through its equity funds and takes minority stakes through its capital solutions funds. The firm invests in management buyouts, corporate divestitures, acquisitions of family businesses, going-private transactions, and special situations.
Sentinel targets companies with enterprise values between $25 million and $250 million, and EBITDA between $5 million and $65 million. The firm has focused its investments on companies operating in the aerospace and defense, business services, consumer, food and restaurant, healthcare services, and industrial sectors.
Investment funds
Sentinel invests through a series of private limited partnerships and its investors include a variety of pension funds, endowments, and other institutional investors. Since Sentinel's establishment in 1995, it has raised seven private equity funds and two junior capital funds.
Investors in Sentinel Funds include college and university endowments, foundations, state and government retirement systems, corporate pension plans, insurance companies, sovereign wealth funds, investment advisors, and family offices located in the United States, Europe, China, Japan, Australia, and the Middle East.
Fund
Vintage Year
Committed Capital ($m)
Sentinel Capital Partners VII
2022
$4,350
Sentinel Junior Capital II
2022
$835
Sentinel Capital Partners VI
2018
$2,150
Sentinel Junior Capital I
2018
$460
Sentinel Capital Partners V
2013
$1,300
Sentinel Capital Partners IV
2008
$765
Sentinel Capital Partners III
2005
$319
Sentinel Capital Partners II
1998
$126
Sentinel Capital Partners I
1996
$50
Leadership
In March 2025, Sentinel announced a leadership succession plan under which Eric Bommer, who joined Sentinel as its first professional hire in 1997, was elevated to serve alongside David S. Lobel as co-managing partner, positioning him as Lobel's eventual successor. John F. McCormack continues as senior partner.
Controversy
Buffet Holdings Settlement
In 2010, the creditors of Buffets Holding sued Sentinel and its investment partner Caxton-Iseman Capital for "bilk[ing] Buffets of hundreds of millions of dollars" that led to its insolvency. Sentinel and CI Capital settled the lawsuit for more than $23 million.
TGI Fridays
Sentinel and Triartisan Capital Partners acquired TGI Fridays in 2014 from Carlson a month after the company facing a nationwide collective action wage theft lawsuit. The company tried to prevent certification of an FLSA collective by settling with individual workers that alleged unpaid wages up to $91 million. Eventually TGI Fridays settled in 2017 for over $19 million to over 28,000 workers, the largest wage and hour payout at the time. In 2018, TGI Fridays was also found to have failed to pay £59,348 to its U.K. staff.
In 2019, TGI Friday was sued in a proposed class-action lawsuit for selling potato skin chips that don't contain potato skins.
In April 2020, Sentinel's deal to take TGI Friday's public was called off due to "extraordinary market conditions" due to the coronavirus outbreak.