PineBridge Investments – a multi-asset class investor – has held an above target final close for PineBridge Structured Capital Partners III, LP at $600 million.
The new fund will invest in junior capital including mezzanine debt and structured equity issued by privately-owned North American-based middle market companies operating in a wide range of sectors.
“We are committed to being reliable and flexible providers of junior capital to middle market companies,” said F.T. Chong, Managing Director and Head of PineBridge Structured Capital. “We are of course pleased with the positive reception for our latest fund. Most of the limited partners from our prior fund have signed up for Fund III and the new investors include major institutions in the US as well as Europe, the Middle-East and Asia.”
The PineBridge structured capital team has completed approximately $2 billion of structured capital, mezzanine and other private equity investments in more than 70 private companies since 2000.
PineBridge manages $85 billion in assets for institutional and individual clients in multi-asset, fixed income, equities and alternatives. The firm has approximately 220 employees in 32 countries and is based in New York (www.pinebridge.com). PineBridge is majority-owned by a subsidiary of Pacific Century Group (PCG), an Asia-based private investment group. PCG acquired AIG’s asset management operations, AIG Investments, in 2010 for $500 million and renamed the group PineBridge Investments.
© 2016 Private Equity Professional • Private Equity’s Leading News Magazine • 4-6-16
