Toronto and New York-based private equity firm Beringer Capital has closed its fourth flagship fund at C$380 million ($307 million). Digital Transformation Opportunity Fund’s backers included pension plans, funds-of-funds, financial institutions, family offices, and high-net-worth individuals. Beringer invests in the media, marketing services, consumer and technology sectors.
Toronto / New York – November 8, 2021 – Beringer Capital (“Beringer”), a leading North American private equity firm specializing in the media, marketing services, consumer and technology sectors, today announced the successful final closing of Beringer Capital Fund IV L.P. (“Fund IV” or “The Fund”). With USD $307 million (CAD ~$380 million) in capital commitments, Fund IV marks Beringer’s largest fund to date.
Fund IV, named the Digital Transformation Opportunity Fund, will advance Beringer’s investment thesis of partnering with founder-led businesses to unlock the power of digitization as a driver of growth, efficiency and enhanced customer experience. Combining deep sector expertise with an owner-operator mindset, the Beringer team has an impressive track record of collaborating with management teams to improve operations, tap into new revenue streams and create competitive advantages. Beringer’s noteworthy realized investments to date include Adweek, a preeminent trade media and events company; and Blue Acorn iCi, a digital customer experience, commerce and analytics services provider.
The close of Fund IV takes place as the COVID-19 pandemic has reshaped consumer behavior and upended business models, amplifying key secular trends and accelerating companies’ digital transformation efforts. At the same time, monumental advances in both the digital and knowledge economies—namely around data, digital customer experience, performance-based marketing, digital commerce, and AI—offer tremendous opportunities for businesses that can successfully embrace an innovative operating model.
Beringer is uniquely positioned to capitalize on these underlying trends and provide investors exposure to the upside they can offer; it accomplishes this through investments in high-quality middle-market growth companies (producing more than $5 million in EBITDA) with an appropriate risk-adjusted profile for leveraged buy-out transactions. The firm’s collaborative approach to value creation has been validated by its 20-year track record of strong returns, as well as successful company partnerships in the digital media, marketing, consumer and technology sectors. It has also successfully deployed capital across three acquisitions for Fund IV to date, including:
· Perform[cb] – one of the world’s top digital performance marketplaces, specializing in customer acquisition marketing solutions.
· The Inman Group – an established leader in digital information and events for the residential real estate community.
· Benzinga – a dynamic digital financial media, investment analytics, and market information business for retail and professional investors.
Fund IV comprises the most diversified investor base in the firm’s history, with participation from both existing investor relationships and newly formed partnerships across the North American limited partner-base. These include pension plans, funds-of-funds, financial institutions, family offices, and high-net-worth individuals.
“We’re committed to investing in firms where we know we can add significant value,” said Perry Miele, Chair & Managing Partner at Beringer. “With the support of Fund IV, we are excited to form new partnerships and assist founder-led companies in navigating the digital transformation era.”
To learn more about Beringer Capital, and to explore its thought leadership content on the digital transformation imperative for brands, please visit www.beringercapital.com.
About Beringer Capital:
Beringer Capital is a private equity firm specializing in the rapidly evolving media, marketing services, commerce, data and technology sectors. The firm leverages its financial and intellectual capital to invest in middle-market companies that are strongly positioned to benefit from the accelerating trend toward digital transformation. Beringer’s collaborative approach, as well as its strong track record with add-on acquisitions, helps visionary leadership teams to deliver exceptional customer experience and achieve impressive results.
Beringer Capital has offices in Toronto and New York. For more information, visit www.beringercapital.com