Greenbriar Equity Partners, a Rye, N.Y.-based private equity firm focused on the transportation industry, has hit the $1 billion target for its second fund. Limited partners include Citigroup Pension Plan,
The firm was founded in 2001 by former Goldman Sachs transportation pros Regg Jones and Joel Beckman, plus former United Airlines CEO Jerry Greenwald. Its $700 million debut fund had a co-investment agreement with Berkshire Partners, whereby each firm had the right to co-invest in the other's transportation-related deals. The new Greenbriar fund does not include a similar arrangement. www.greenbriarequity.com