Berkshire Partners LLC, a Boston, MA-based investment firm, closed its ninth private equity fund, with total equity commitments of $5.5 billion.
Berkshire Fund IX was subscribed primarily by existing and new investors including large endowments, foundations, pension funds and financial institutions.
The firm invests $50m to $500m of equity capital in middle market growth companies with acquisition values between $200m and $2 billion.
Founded thirty years ago, Berkshire has completed over 115 investments in mid-sized companies and developed specific industry experience in several areas including consumer products and retail, business services, communications, industrials and transportation.
The firm private equity investment staff counts over 60 professionals and is led by 24 managing directors.
FinSMEs
02/04/2016
PRESS RELEASE
Berkshire Partners Closes Berkshire Fund IX
Boston, Massachusetts, March 31, 2016 — Berkshire Partners LLC, a Boston-based investment firm, today announced the closing of the firm’s ninth private equity investment fund, Berkshire Fund IX, with total equity commitments of $5.5 billion.
Fund IX’s capital was subscribed primarily by institutional investors in previous Berkshire funds. Investors include many of the world’s largest endowments, foundations, pension funds and financial institutions. Consistent with its philosophy of alignment with limited partners, Berkshire is the largest investor in Fund IX.
Berkshire seeks to invest in middle market growth companies in partnership with talented management teams. Fund IX’s portfolio is expected to consist of companies with acquisition values between $200 million and $2 billion. The firm aims to invest $50 million to $500 million of equity capital in each portfolio company.
Since its inception thirty years ago, Berkshire has completed over 115 investments in mid-sized companies and developed specific industry experience in several areas including consumer products and retail, business services, communications, industrials and transportation. Berkshire’s private equity investment staff numbers over 60 professionals and is led by the firm’s 24 managing directors.
Weil, Gotshal & Manges LLP served as fund counsel. The firm engaged no intermediary to assist in fundraising.