Brentwood Associates has held a final close of Brentwood Associates Private Equity VI, LP and parallel funds with total capital commitments of $1.15 billion. Fund VI, the largest fund raised by Brentwood to date, closed at its hard cap and exceeded its target of $750 million. Brentwood’s earlier fund closed at its hard cap in November 2014 with total commitments of $688 million.
“We are delighted with the results of our fundraising process,” said Brentwood Partner Bill Barnum. “Our team is very appreciative of the long-term support we’ve received from our existing limited partners, and we are excited to welcome new investors to Fund VI. We value these relationships and the confidence our partners have shown in our team and investment strategy.”
Fund VI will seek to make control-oriented equity investments in North American-based middle market companies that have enterprise values between $50 million and $500 million. Preferred investment types include buyouts, growth equity, and minority recapitalizations.
Brentwood Associates is a consumer-focused private equity investment firm with over $2.4 billion of capital under management. Sectors of interest include branded consumer products; multi-location strategies; direct-to-customer marketing; niche brands with specialty distribution; education; and business services. Since 1984, Brentwood’s private equity team has invested in 53 portfolio companies with an aggregate transaction value of over $6 billion. Brentwood is led by its partners Bill Barnum, Roger Goddu, Steve Moore, Eric Reiter and Rahul Aggarwal and is based in Los Angeles (www.brentwood.com).
Park Hill Group (www.parkhillgroup.com) was the placement agent for this fundraise and Kirkland & Ellis provided legal services.
© 2017 Private Equity Professional | July 13, 2017