Greenbriar Raising Second Fund

Greenbriar Equity Partners, a Rye, N.Y.-based private equity firm focused on the transportation industry, is almost halfway to the $1 billion cap it set for its second fund. Limited partners include Citigroup Pension Plan, University of Chicago, Allianz and the Bill & Melinda Gates Foundation.

The only significant change this time around is a change in Greenbriar's relationship with Boston-based Berkshire Partners. When Greenbriar raised its $700 million inaugural vehicle in 2000, Berkshire negotiated the right to co-invest in any of the fund's deals. Likewise, Greenbriar was permitted to co-invest in any transportation-related deals led by Berkshire. The two firms will maintain a close relationship with expectations of continued co-investment