Brazos Private Equity Partners has closed its third fund with more than $700 million in capital commitments. The Dallas-based firm focuses on middle-market companies with enterprise values of between $50 million and $400 million.
Brazos Private Equity Partners, LLC, a leading Dallas-based private investment firm, today announced the closing of Brazos Equity Fund III (“Brazos III”) with capital commitments totaling more than $700 million.
Brazos III, which was significantly oversubscribed, was closed at its hard cap level and above its initial fundraising target of $600 million. Investors in Brazos III include multinational government and corporate pension funds, endowments, foundations and financial institutions.
Brazos III will continue to pursue Brazos’ investment focus on middle-market companies with enterprise values between $50 million and $400 million. Those companies will operate primarily in the manufacturing, consumer, healthcare, distribution and financial services sectors. In particular, Brazos III will invest in closely held and family-controlled businesses in the Southwestern part of the United States.
The Brazos III investment effort will be led by the Partners of Brazos: Randall S. Fojtasek, Jeff S. Fronterhouse, Patrick K. McGee, Michael D. Salim and David R. Mann.
Mr. Fojtasek said: “My partners and I are delighted by the positive response to our new fund. The strong demand for Brazos III is a by-product of our team’s continued focus on the proven, differentiated investment strategy that has driven our success to date. The Brazos team is grateful for the confidence placed in us by core limited partners that have chosen to invest with us again, as well as by several new investors whose commitments reflect the continuing growth and development of our firm. We look forward to continuing to work closely with management teams to create value for our limited partners and the companies in which we invest through this new fund.”
Brazos now has approximately $1.4 billion of capital under management. Brazos II, which closed in 2005 with capital commitments totaling $400 million, is fully committed. The firm’s first fund, which closed in 2000 with capital commitments totaling $250 million, was successfully invested, and distributions have substantially exceeded invested capital.
About Brazos Private Equity Partners, LLC
Brazos Private Equity Partners, LLC, of Dallas, one of the most active middle-market private investment firms in the United States, specializes in leveraged acquisitions and recapitalizations of established, profitable companies with strong and proven management teams, predictable cash flows and significant growth potential. Brazos partners with management teams to invest in manufacturing, consumer, healthcare, distribution and financial services businesses. Since inception, Brazos has completed more than forty acquisitions representing in excess of $1.5 billion in value. For additional information about Brazos, please visit the firm’s website at www.brazosinv.com.