Marks largest fundraise in firm’s nearly 40-year history
BOSTON–(BUSINESS WIRE)–Oct. 30, 2024
Berkshire Partners (“Berkshire”), a Boston-based private equity firm focused on the middle market, today announced the close of Berkshire Fund XI (“Fund XI”) with approximately $7.8 billion in capital commitments, making it Berkshire’s largest fund since the firm’s inception in 1986. Fund XI was meaningfully oversubscribed, which the firm believes underscores investors’ support for the firm’s multi-sector middle market investment strategy.
“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. “We believe our team’s history supporting the transformation of high-potential middle market companies into enduring leaders across economic cycles resonated with investors, and we feel confident that we are well-positioned to continue deploying capital and earning attractive returns within the sectors we’re targeting.”
As a multi-sector specialist focused on the middle market, Berkshire strategically targets partnership opportunities with companies operating in four key industry sectors, including business services & industrials, consumer, healthcare, and technology & communications. The breadth and depth of Berkshire’s highly-aligned, long-tenured investment team positions the firm to identify attractive investment opportunities and leverage the necessary resources and capital to guide portfolio companies through all phases of expansion and operational enhancement.
Kirkland & Ellis LLP served as the legal counsel to Berkshire Partners.
About Berkshire Partners
Berkshire Partners is a 100% employee-owned, multi-sector specialist investor in private and public equity. The firm’s private equity team invests in well-positioned, growing companies across business services & industrials, consumer, healthcare, and technology & communications. Since inception, Berkshire Partners has made more than 150 private equity investments and has a strong history of collaborating with management teams to grow the companies in which it invests. The firm's public equity group, Stockbridge, founded in 2007, manages a concentrated portfolio seeking attractive long-term investments. For additional information, visit www.berkshirepartners.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20241030170581/en/
Contact:
Greg Winter
Berkshire Partners
gwinter@berkshirepartners.com
