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Newbury Partners wraps up fifth secondaries fund at $2bn

Newbury Partners has completed fundraising for a fifth secondaries vehicle, bringing in committed capital totaling $2 billion.

Newbury Partners has completed fundraising for a fifth secondaries vehicle, bringing in committed capital totaling $2 billion. Newbury Equity Partners V exceeded an original target of $1.75 billion and its prior fund size of $1.45 billion. The firm, founded in 2006 by managing partner Richard Lichter, specializes in small and mid-sized transactions in the private equity secondaries market.

PRESS RELEASE

Newbury Partners Closes Fund V at $2 Billion

STAMFORD, Conn., Dec. 3, 2021 /PRNewswire/ — Newbury Partners LLC (“Newbury”) has held a final close of its fifth fund, Newbury Equity Partners V L.P. (“NEP V”), with capital commitments of $2 billion. This exceeds an original target of $1.75 billion and its prior fund size of $1.447 billion. The limited partner base consists of both new and existing investors.

NEP V brings the firm’s assets under management to more than $6.2 billion. The funds’ limited partner base includes leading pension funds, family offices, insurance companies, endowments, and corporations across North America, Europe, Latin America, Asia, and Australia.

NEP V will continue to target privately-negotiated, small and mid-sized transactions in the private equity secondary market, which Newbury believes provides investors with attractive risk-adjusted returns and consistent cash distributions compared to those available from primary investments in newly formed private equity funds. Newbury’s transactions typically range from $1 million to $100 million in size, which the firm sees as a less competitive space given the focus of market intermediaries and large secondary funds on larger transactions.

Newbury Partners was established in late 2006 by an experienced team of senior investment professionals focused on the secondary private equity market. The firm manages more than $6.2 billion of capital commitments on behalf of approximately 300 limited partners worldwide. Since the firm’s inception, the Newbury team has completed more than 200 secondary transactions and more than 60 co-investments.