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Laxman Pai, Opalesque Asia: Berkshire Partners closed its latest fund, Berkshire Fund XI, with about $7.8 billion in capital commitments, making it Berkshire's largest fund since the firm's inception in 1986.
The buyout fund's initial target was $6.5 billion. Fund XI was meaningfully oversubscribed, which the firm believes underscores investors' support for the firm's multi-sector middle market investment strategy.
A media release from the multi-sector specialist investor in private and public equity said that limited partners were encouraged by its large general-partner commitment and the substantial amount of capital the firm has returned to investors in recent years, at a time when other firms have struggled with exits.
"We are grateful to have received this level of support from a terrific group of sophisticated, global investors, both existing and new, as demand exceeded our original target fund size," said Mike Ascione, Managing Director at Berkshire Partners.
Boston-based private equity firm Berkshire said that as a multi-sector specialist focused on the middle market, Berkshire strategically targets partnership opportunities with companies operating in four key industry sectors: business services and industrials, consumer, healthcare, and technology and communications.
As per the release, the breadth and depth of Berkshire's aligned, long-tenured investment team position the firm to identify attractive investment opportunities and lever...................... To view our full article Click here
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