BBH Capital Partners has collected $447 million toward the $575 million target for its fifth private equity fund.
According to a Securities and Exchange Commission filing, Evercore Partners’ Private Funds Group is assisting the New York mid-market firm with the fund raising.
The placement agent helped raise capital for its previous fund BBH Capital Partners IV, a $517 million, 2012-vintage vehicle, which surpassed its $300 million target in nine months, as Private Equity International reported.
Spokespeople at BBH Capital and Evercore Partners Private Funds Group did not immediately return calls seeking comment.
BBH Capital’s private equity fund managers – led by co-managers Jeffrey Meskin, Jean Pierre Paquin and Bradley Langer along with a team of three principals – typically seek to invest $25 million to $100 million in control-oriented or growth equity investments in companies valued up to $500 million.
The firm targets business across diverse industries including healthcare, technology, media, telecommunications, as well as business products and services. In addition, it will also make junior debt investments.
In April, BBH Capital and Battery Ventures joined together to invest $80 million in working capital to finance PrimeRevenue.
BBH Capital raised $206 million for its third fund in 2007. Its investors have included a mix of public and corporate pension funds, insurance companies, family offices, endowments, foundations and high net worth investors.