Madison Dearborn Partners
Private equityChicago · Growth · 88 people tracked
Also known as MADISON DEARBORN PARTNERS, LLC
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Investment thesis
MDP applies an industry-focused strategy built over nearly four decades, concentrating on three sectors: Financial & Transaction Services; Healthcare; and Technology & Government. Its team leaders have devoted their careers to individual industries, bringing deep sector investing and operating experience. The firm pursues both buyout and growth equity deals, emphasizing the quality of a business, its prospects and leadership over deal structure, and will take either control or minority positions. MDP is deeply embedded in Chicago and Midwest business, civic and philanthropic circles. Its current fund, Madison Dearborn Capital Partners VIII, holds $5.0 billion in aggregate commitments from a global limited partner base.
Source: firm website, verified Sep 29, 2026.
Team · 88 people
from the firm's websiteWhat they invest in
from 5 of 6 portfolio companiesAI & Machine Learning ×3Enterprise Software ×3Digital Health ×2Healthtech ×2SaaS ×2Cybersecurity ×1GovTech ×1Marketing Tech ×1
HQs:United States×4
Investments · 6 tracked
founders shown can be your intro pathBy year:2023 · 12019 · 12015 · 12014 · 14 dated
Option Care Health provides infusion therapy services for patients with a range of acute and chronic conditions, working with healthcare providers, health systems, hospitals, insurers, and pharmaceutical manufacturers.
Digital HealthHealthtechElmsford, US
Patricia Bogusz(Executive Officer)David Evans(Executive Officer)Kimberlee C. Seah(Executive Officer)Hai Tran(Executive Officer)Myron Z. Holubiak(Executive Officer, Director)Brian Stiver(Executive Officer)
Harmonia provides advanced technology solutions for U.S. federal government agencies, specializing in AI/ML, cybersecurity, data science, and cloud modernization using Agile and DevSecOps methodologies.
AI & Machine LearningCybersecurityEnterprise SoftwareGovTechBlacksburg, US
Pallabi Saboo(Co-founder, Strategic Advisor)Jai Saboo(Co-founder, Strategic Advisor)Marc Abrams(Co-founder, Chief Technology Officer)
Guidon Partners is a partnership of healthcare services executives that co-invests alongside private equity firms and management teams, contributing its own capital plus hands-on operating expertise.
Digital HealthHealthtechRichmond, US
Paul DiazHerb FritchNicholas J. Pace(Principal and Executive Vice President)Gregory W. Scott(Managing Director and Co-Chief Executive Officer)Kevin RuthTom Davisin
InMoment's XI Platform is a customer experience (CX) analytics and action platform that helps companies collect feedback, analyze insights, and execute improvements across customer, employee, product, and market touchpoints.
AI & Machine LearningEnterprise SoftwareMarketing TechSaaS
Co-investorsJMI EquityPeterson Venture Partners
Zilliant provides an AI-driven pricing platform that automates and optimizes pricing operations for B2B companies using real-time data intelligence.
AI & Machine LearningEnterprise SoftwareSaaSSales Tech
Co-investorsEscalate Capital PartnersHouston VenturesGoldman Sachs
Other
Tracked investments with no reachable website or further public details — typically companies that wound down, renamed, or were absorbed.
Exits · 1
1 IPOsBioScripNASDAQ: OPCH
Fund performance · per public LP disclosures · 9
as of Sep 2025| Fund | Vintage | Committed | Net IRR | TVPI | DPI |
|---|---|---|---|---|---|
| Madison Dearborn Capital Partners VIII, L.P.LPs: California Public Employees' Retirement System, Washington State Investment Board, New Mexico Public Employees Retirement Association +2 more | 2020 | — | 12.0% | 1.30x | 0.38x |
| Madison Dearborn Capital Partners VIII-A, L.PLPs: Minnesota State Board of Investment | 2019 | — | 11.2% | 1.32x | 0.45x |
| Madison Dearborn Capital Partners VII, L.P.LPs: Minnesota State Board of Investment, Daniels Fund, Maryland State Retirement and Pension System | 2015 | — | 9.8% | 1.63x | 0.86x |
| Madison Dearborn Capital VII-A/BLPs: California State Teachers' Retirement System | 2015 | — | 13.3% | 1.86x | 1.04x |
| Madison Dearborn Capital Partners VI, L.P.LPs: Washington State Investment Board, The Regents of the University of California, Pennsylvania Public School Employees' Retirement System +4 more | 2008 | — | 23.2% | 2.20x | 2.16x |
| Madison Dearborn Capital Partners V, L.P.LPs: California Public Employees' Retirement System, Washington State Investment Board, The Regents of the University of California +4 more | 2006 | — | 7.5% | 1.60x | 1.55x |
| Madison Dearborn Capital Partners V, LP*LPs: Empire State Development – New York Ventures | 2006 | — | — | 1.63x | 1.63x |
| Madison Dearborn Capital Partners IV, L.P.LPs: Washington State Investment Board, California State Teachers' Retirement System, California Public Employees' Retirement System +4 more | 2000 | — | 13.9% | 1.80x | 1.75x |
| Madison Dearborn Capital Partners III, L.P.LPs: Washington State Investment Board, Hawaii Employees' Retirement System | 1999 | — | 8.6% | 1.50x | 1.49x |
Source: public limited-partner disclosures (CalPERS, CalSTRS). Net IRR / TVPI / DPI as reported by the limited partner; a fund's early-year IRR is an interim estimate (J-curve).
IPO stake values · per SEC filings
Value of this firm's stake in each portfolio company at its IPO price, from the prospectus principal-stockholder table.
| Company | Owned | IPO price | At IPO | Stake value |
|---|---|---|---|---|
| BioScrip | 21.1% | $26.90 | Sep 2021 | $1B |
Source: SEC S-1 / 424B prospectus filings. Stake value = shares beneficially owned × the initial public offering price, as disclosed — a market value at IPO, not a return multiple (the firm's original cost is not disclosed).
Frequently asked questions
- How many investments has Madison Dearborn Partners made?
- Madison Dearborn Partners has 6 tracked investments, 1 of which have exited.
- What stage does Madison Dearborn Partners invest at?
- Madison Dearborn Partners invests at the Growth stage.
- What sectors does Madison Dearborn Partners focus on?
- Madison Dearborn Partners focuses on Enterprise Software, Fintech, GovTech, Healthtech.
- Where is Madison Dearborn Partners located?
- Madison Dearborn Partners is headquartered in Chicago, US.
- Does Madison Dearborn Partners lead rounds?
- Madison Dearborn Partners typically participates in rounds rather than leading them.
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