Brentwood Associates said July 12 that its latest fund closed with $1.15 billion, exceeding its $750 million hard cap and target. Fund VI will make control investments in companies with enterprise values between $50 million and $500 million, with a focus on buyouts, growth equity investments and minority recapitalizations in the North American middle market. Park Hill Group LLC acted as the placement agent, Kirkland & Ellis LLP provided legal advice.
LOS ANGELES–(BUSINESS WIRE)–July 12, 2017–
Brentwood Associates, a leading Los Angeles-based private equity investment firm (“Brentwood”), announced the final closing of Brentwood Associates Private Equity VI, L.P. and parallel funds (“Fund VI”), with $1.15 billion of capital commitments. Fund VI closed at its hard cap and exceeded its target of $750 million. Fund VI is the largest fund raised by Brentwood to date, and the firm now has over $2.4 billion in assets under management. The new fund follows the strategy of its predecessor, Brentwood Associates Fund V, L.P. and parallel funds, which 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.”
Brentwood’s investment strategy focuses on partnering with growing category-defining brands, with exceptional customer loyalty and growth prospects, where Brentwood can utilize its experience and resources to realize untapped value. Brentwood is a value-added partner with management in driving growth through improved branding, marketing optimization, new product development, direct-to-consumer growth, distribution expansion and optimization, and acquisitions.
Fund VI generally will seek to make control-oriented equity investments in companies with enterprise values between $50 million and $500 million, with a focus on buyouts, growth equity investments and minority recapitalizations in the North American middle market. The firm is led by its partners Bill Barnum, Roger Goddu, Steve Moore, Eric Reiter and Rahul Aggarwal.
Kirkland & Ellis LLP provided legal counsel, and Park Hill Group LLC acted as an advisor and exclusive placement agent.
ABOUT BRENTWOOD ASSOCIATES
Brentwood Associates is a leading consumer-focused private equity investment firm with over $2.4 billion of assets under management and a 30-year history of investing in leading middle-market growth companies. Brentwood focuses on investments in growing businesses where it can leverage its extensive growth experience in segments including branded consumer products; multi-location strategies; direct-to-customer marketing; niche brands with specialty distribution; education; and business services. Since 1984, Brentwood’s dedicated private equity team has invested in 53 portfolio companies with an aggregate transaction value of over $6 billion. With significant experience in both investing and brand building, Brentwood is a value-added partner with entrepreneurs and senior management teams building world-class companies. For more information about Brentwood, please visitwww.brentwood.com.