Bruckmann Rosser the Latest To Enter Fundraising Purgatory?
Bruckmann Rosser Sherrill & Co.’s third buyout fund may be the latest firm to enter what we’ve been calling “Fundraising Purgatory.” It’s a place where not-yet-aborted funds lay in wait for “market conditions to approve.” Since neither the firm or Knight Capital, its placement agent, wouldn’t call me back, I can’t be clear, but let’s look at the facts: Bruckmann Rosser entered the market, seeking $600 million, as early as July of 2007. That is 20 months ago. According to a Buyouts report, the fund accumulated $250 million from existing investors, with plans to hold a first close on that sum, in October 2007. Yet according to regulatory filings, the firm has
3 April 2009•2 mins read
