Greenbriar Closes Second Fund

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, University of Chicago, Allianz and the Bill & Melinda Gates Foundation.

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