Brightstar Capital Partners, the New York middle-market private equity firm, has raised more than $710 million for its debut fund. No target was specified.
The fund’s limited partners include several university endowments, high-net-worth investors, pension funds, private foundations, family offices and insurers.
Brightstar’s investments include Global Resale, an Austin provider of aftermarket services and reverse logistics, focused on resale, buyback and disposition of technology devices; and Texas Water Supply, an operator of about 40 groundwater wells serving the San Antonio and surrounding Hill Country region. Terms weren’t disclosed.
Eaton Partners was placement agent for Brightstar’s inaugural fund while Simpson Thacher & Bartlett provided legal counsel.
Brightstar was launched in 2015 by former Lindsay Goldberg Partner Andrew Weinberg.
The firm invests $50 million to $250 million in each portfolio company.
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