Newbury closes over $1.1 bln for third fund

Stamford, Conn.-based private equity firm Newbury Partners has raised over $1.1 billion in the final close of its third fund. According to the firm, the pool will focus on small and mid-sized deals ranging from $1 million to $50 million in size. MVision Private Equity Advisers served as exclusive fundraising advisor for the fund.


STAMFORD, CT (March 31, 2014) – Newbury Partners LLC (“Newbury”), a Stamford, Connecticut based secondary investment firm, is pleased to announce the final closing of Newbury Equity Partners III L.P. (“Fund III”) with over $1.1 billion of capital commitments. Fund III exceeded its $1 billion target and hard cap after launching in the summer of 2013.
Newbury secured commitments primarily from its existing investors – a global and diverse Limited Partner network. Approximately 60% of total commitments came from capital outside of North America.
Fund III attracted a leading group of world class institutional investors including private and public pension funds, endowments, foundations and family offices.
“We are extremely pleased with the success of our fundraise and the strong support we received from investors globally,” said Richard Lichter, Managing Partner of Newbury. “We believe our disciplined, service-oriented investment approach not only drives better relative pricing in transactions, but also allows us to consistently perform for our investors independent of market conditions.”
Consistent with Newbury’s historical investment strategy, Fund III will target privately-negotiated, small and mid-sized transactions ranging from $1 million to $50 million in size. Newbury specifically targets transactions in which it believes non-monetary factors are critical to the seller and in which it can create competitive advantages by providing these services. Typical sellers include family offices, small financial institutions and investment management firms. Since inception, Newbury has completed more than 85 secondary transactions, committing approximately $1.6 billion.
MVision Private Equity Advisers acted as exclusive fundraising advisor for Fund III. Proskauer Rose LLP served as legal counsel.
About Newbury Partners
Newbury Partners specializes in acquiring buyout, venture capital, special situations, mezzanine and fund-of-funds limited partnership interests in the secondary market. With experience spanning more than 150 secondary transactions and nearly 20 years as secondary specialists, Newbury Partners works with sellers and funds to create liquidity solutions across the global private equity markets. From large financial institutions and corporations to family offices and individual investors, Newbury Partners delivers creative liquidity solutions to address sellers’ objectives across the global private equity market.
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