BDT raises $3.5bn for Fund II

 Chicago-based merchant bank BDT Capital Partners has raised nearly $3.5 billion for its second buyout fund.  

BDT Capital Partners, a merchant bank launched by a former Goldman Sachs executive, has raised close to $3.5 billion its second private equity fund according to SEC filings.

BDT maintains a low profile, but has backing from Warren Buffet’s Berkshire Hathaway.  The BDT Capital Partners Fund II has a target of $5.21 billion, according to the SEC filing. 

The firm was unavailable for comment at press time on whether the filing constitutes a first close.

So far, there are 123 investors in Fund II.  The firm's first buyout fund, BDT Capital Partners Fund I, raised $2 billion in 2009 to invest in North American companies, according to Private Equity International’s research and analytics division.

The firm has already seen some staff moves including Gary Cardinale who left last year to start his own private equity shop.

BDT has investments in a wide range of companies including investment firm 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.