Berkshire Partners has closed the firm’s ninth private equity investment fund, Berkshire Fund IX, with total capital commitments of $5.5 billion. The firm’s earlier fund, Berkshire Fund VIII, closed in 2011 with $4.5 billion of capital.
Berkshire, the largest single investor in Fund IX, did not use a placement agent and most of the capital commitments were provided by institutional investors – endowments, foundations, pension funds and financial institutions – that were limited partners in prior funds.
Berkshire invests from $50 million to $500 million of equity capital in mid-sized companies with enterprise values from $200 million to $2 billion. Sectors of interest include consumer products and retail, business services, industrials, communications, and transportation. The firm was founded in 1986 and is based in Boston (www.berkshirepartners.com).
Weil, Gotshal & Manges (www.weil.com) provided legal counsel to Berkshire for this fundraise.
© 2016 Private Equity Professional • Private Equity’s Leading News Magazine • 4-5-16
