BDT meets $5bn target on Fund II

Chicago-based merchant bank BDT Capital Partners has raised $5.21 billion for its second buyout fund

BDT Capital Partners, a merchant bank launched by a former Goldman Sachs executive, has raised $5.21 billion for its second buyout fund – meeting its target, according to SEC filings.

PEI reported the first close of this fund on $3.5 billion in July.

BDT declined to comment on fundraising.

BDT maintains a low profile, but has backing from Warren Buffet’s Berkshire Hathaway. Byron Trott heads up the firm which launched in 2009, following Trott’s 27 year stint at Goldman Sachs. The firm raised its first fund that same year, closing on $2 billion.

In 2012, the firm raised a $1 billion BDT Capital Partners Annex Fund.

There are over 100 investors in Fund II, according to Private Equity International’s research and analytics division. The second fund is believed to have the same strategy as Fund I – buyouts of North American family-owned businesses.

Current investments from Fund I include Tudor Pickering Holt & Co, and Tory Burch LLC. It is also the lead investor on the Wrigley Building in Chicago with Zeller Realty Group, and Eric Lefkofsky and Brad Keywell the founders of tech startup Groupon.