Newbury Partners said Thursday that Newbury Equity Partners II L.P. has raised $1.024 billion, up from its original target of $800 million. Commitments came from 75 institutional investors in the Americas, Europe, Asia and Australia. NEP II will buy LP interests in buyout and venture capital funds across North America, according to the statement. Newbury, of Stamford, Conn., is a PE firm.
Global private equity firm Newbury Partners LLC today announced it has completed raising its private equity secondary fund, Newbury Equity Partners II L.P. (NEP II), with equity commitments totaling $1.024 billion. The fund originally targeted $800 million of commitments and closed at its hard cap. The fund will principally purchase private equity limited partnership interests through secondary transactions.
Newbury Partners was formed in July 2006 and is located in Stamford, CT. NEP II will acquire
limited partnership interests of buyout and venture capital funds across North America, Europe and
Asia that are sold by investors seeking liquidity through the secondary market. Newbury focuses on
small and mid-sized secondary transactions that are typically $1 million to $50 million in value. NEP
II is comprised of commitments from over 75 institutional investors in the Americas, Europe, Asia
The team is led by Richard Lichter, Chris Jaroch, Justin Pollack and Gerry Esposito. In 2008,
Newbury raised a $702 million secondary vehicle, Newbury Equity Partners L.P. The Newbury team
has completed over 100 secondary transactions with sellers in North America, Europe, Middle East