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Laxman Pai, Opalesque Asia: New York-based private equity investment firm EagleTree Capital closed lower-middle-market buyout fund EagleTree Partners V at $1.12 billion.
ET V had an aggregate capital commitment of $1.118 billion, exceeding its initial target.
According to the private equity manager, its two most recent funds, EagleTree Partners III and EagleTree Partners IV raised $403 million and $790 million, respectively.
ET V received strong support from existing EagleTree investors and several new, leading investors in the U.S. and abroad.
Investors in the new fund include the $225.9 billion New York State Common Retirement Fund, Albany.
Proceeds from EagleTree's recent structured financing investment substantially increased its own commitment to ET V, making EagleTree and its employees the largest investor in ET V.
EagleTree Co-Managing Partners Anup Bagaria and George Majoros said: "We are thrilled with the success of the fundraise, and are grateful for the strong support we have received from both new and existing investors. We look forward to investing ET V with the same collaborative approach that has defined the EagleTree team for decades."
EagleTree focuses on investments in the media and business services, consumer, and water and specialty industrial sectors.
Lazard acted as placement agent for ET V and Paul, Weiss, Rifkind, Wharton & Garrison LLP provided legal counsel. ...................... To view our full article Click here
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