U.S. private equity firm Brazos Private Equity Partners will not be raising a new fund and will manage out the existing portfolio and wind down, reports Chris Witkowsky, editor of peHUB. The source of the news was Michael Salim, a partner in the firm and its general counsel.
Salim confirmed that some partners may start up their own ventures, or join new firms. However, the priority is to finish the deployment of Brazos’ US$715 million Fund III (2008), the investment period of which ends in July, he said.
In 2011, the Dallas-based Brazos bought optometrist network Vision Source, a division of the Mississauga, Ontario-based TLC Vision Corp, from Charlesbank Capital Partners and H.I.G. Capital. Charlesbank and HIG acquired TLC in 2010.
Last year, Calgary-based eye care specialist FYidoctors purchased the Canadian assets of Vision Source from Brazos.
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