Irving Place Capital, formerly known as Bear Stearns Merchant Banking (BSMB), is an American private equity firm focused on leveraged buyout and growth capital investments in middle-market companies in the industrial, packaging, consumer and retail industries. Based in New York City, it has total committed capital across its funds of $5.9 billion. The firm's predecessor Bear Stearns Merchant Banking was founded in 1997 by John D. Howard, formerly a co-founder of Vestar Capital Partners. The group completed its separation from Bear Stearns' owner JPMorgan Chase in 2008.