BV Investment Partners has held a first and final close for BV Investment Partners Fund IX, LP at its $750 million hard cap, well above its $600 million target. Fundraising for Fund IX began in mid-January 2017. The firm’s earlier fund closed in September 2014 at its hard cap of $487 million.
BV Investment Partners invests in the business services and information technology services industries. “I want to thank our investors for their tremendous support,” said Vikrant Raina, Managing Partner of BV. “We are poised now to deploy capital from our new fund into a rich pipeline of prospective investments. BV’s sectors of focus are in a period of phenomenal growth as information and software transform the global economy. We look forward to continuing to work with very talented executives to help grow their businesses.”
With the closing of Fund IX, the firm’s investor base now includes global foundations, public and corporate pension plans, financial institutions, family offices and individual investors including members of past portfolio management teams and BV’s Operating Advisory Board. Evercore Private Funds Group served as the placement agent for Fund IX.
“Fund IX’s successful fundraise is a result of BV’s differentiated strategy, investment team, portfolio performance and the significant support we received from our existing investor base,” said Maggie Carter, Chief Operating Officer of BV. “Working with Evercore Group as our placement agent, we also welcomed a select group of new global institutional limited partners in Fund IX. We are thankful for the support of our limited partner base, excited about the opportunities that exist for the Fund IX platform and focused on continuing to uphold our commitments to our investors.”
BV Investment Partners was founded in 1983 and has offices in Boston and New York (www.bvlp.com).
© 2017 Private Equity Professional | April 10, 2017