BV wraps up ninth fund at $750 mln

Middle-market private equity firm BV Investment Partners has closed its ninth fund at a hard cap of $750 million, beating its $600 million.

BV Investment Partners Fund IX began fundraising in mid-January.

The fund’s limited partners included global foundations, public and corporate pension plans, financial institutions and family offices.

Also, BV promoted Matt Kinsey to managing director and Mike Ricciardelli as managing director and operating partner. Kinsey joined the firm in 2000 as an associate while Ricciardelli was added to BV’s operating advisory board in 2012.

In 2014, BV’s previous fund raised $487 million. No performance data was available on this fund.

Evercore Private Funds Group served as a placement agent for Fund IX while Ropes & Gray LLP provided legal advice.

According to BV, it has invested over $2.9 billion in 88 companies since its inception in 1983.

Photo: A man poses with dollars, after buying them at a money exchange in Caracas, February 24, 2015. Reuters/Carlos Garcia Rawlins