Yes. Marcy Venture Partners and Pendulum Holdings’ investment arm, Pendulum Opportunities, merged to form MarcyPen Capital Partners. The merger was reportedly finalized around September 2024, and TechCrunch later reported combined assets under management of $900 million. That figure differs from a pre-merger estimate of more than $1 billion, which was reported during negotiations.
What happened in the merger?
Marcy Venture Partners combined with Pendulum Opportunities, the investment arm of Pendulum Holdings, to create MarcyPen Capital Partners. TechCrunch reported the completed merger on December 16, 2024, citing confirmation from a MarcyPen spokesperson. The spokesperson did not provide a direct public quote about the transaction.
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Marcy Venture Partners was founded in 2018 by Jay-Z, Jay Brown, and Larry Marcus. Pendulum was founded in 2019 by Robbie Robinson and D’Rita Robinson. The new firm brings the two investment businesses together under the MarcyPen name.
When did the merger close?
TechCrunch reported that the merger was finalized around September 2024, based on Preqin information and records filed with the California Secretary of State. The report did not establish a specific closing date. A separate SEC filing signed in October identifies MarcyPen Capital Partners LLC as the manager of MarcyPen Opportunities Fund II LP, but it is a fund-offering filing, not a merger filing.
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- 1 Interlude
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How much does MarcyPen manage?
TechCrunch reported $900 million in assets under management (AUM), attributing the figure to PitchBook. This is the later reported figure associated with the completed combination.
In May 2024, while the firms were in advanced merger discussions, Bloomberg reported that the combination could exceed $1 billion in AUM, citing unnamed people familiar with the matter. That was a prospective deal-stage estimate, not a final reported figure. The two numbers therefore describe different stages and have different sourcing: an estimate during negotiations versus PitchBook’s figure reported after the merger.
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What does the SEC filing say about MarcyPen Opportunities Fund II?
A Form D/A filed with the U.S. Securities and Exchange Commission for MarcyPen Opportunities Fund II LP was signed October 23, 2024. It identifies MarcyPen Capital Partners LLC as the fund’s manager and classifies the issuer as a pooled investment/private-equity fund. The filing lists a $250 million total offering and $100.665 million sold, but those amounts have different scopes:
- $250 million total offering: applies to the issuer and certain related entities.
- $100.665 million sold: applies to the issuer alone as stated in the filing.
These are figures reported in that filing, not a current fundraising update or a measure of MarcyPen’s firm-wide AUM. The filing does not explain the merger’s financial terms.
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What is not publicly established?
The cited reporting and filing do not disclose the transaction’s structure or consideration, the ownership split, governance arrangements, or an exact closing day. They also do not provide a current post-merger portfolio or operating update. The SEC document concerns a fund offering; it should not be read as a record of the merger itself.
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