Brentwood nears $1 bln Fund VI cap

Brentwood Associates is nearing the $1 billion cap on its sixth fund, which could hold a final close in early May, according to a person with knowledge of the firm.

“All the allocations are spoken for,” the person said.

Fund VI hit the market last year with a $750 million target. Park Hill Group is placement agent.

No one at Brentwood responded to a request for comment.

Brentwood, which invests in the consumer sector, closed its fifth fund on $688 million in late 2014. The firm closed Fund IV on $440 million in 2006.

Fund V was generating a 5.84 percent internal rate of return from inception through Dec. 31, 2015, performance information from Colorado Public Employees’ Retirement Association  shows. Fund IV was producing a 14.77 percent IRR since inception as of that date.

In March, Brentwood-backed Excelligence Learning acquired ChildCare Education Institute, which provides online professional development for early child care and education markets. Brentwood acquired a majority stake in Excelligence in 2014.

Brentwood, which managed $1.3 billion as of Dec. 31, 2016, is managed by Bill Barnum, Roger Goddu, Eric Reiter, Steven Moore and Rahul Aggarwal. Barnum is the firm’s principal owner.

Action Item: Read Brentwood’s Form ADV: http://bit.ly/2puo4x4

Bill Barnum of Brentwood Associates. Photo by Dennis Trantham.