Greenbriar Equity Group, a Rye, N.Y.-based private equity firm specializing in transportation has closed its Greenbriar Equity Fund III on $1.1 billion, shy of its $1.25 target. The fund, which launched in November 2012 is the firm’s largest to date.
Greenbriar Equity Group specializes in leveraged buyouts, recapitalizations, growth capital investments, turnarounds, corporate joint ventures, and privatizations in the global transportation sector.
Fund III is 25% percent invested to date. Investments include Transplace Holdings, LLC, a provider of logistics technology, intermodal and truck brokerage services, and Nordco Holdings, LLC, a provider of rail related products and services.
Terms of the acquisitions were not disclosed however, Fund III is building on the same strategy of its predecessor funds. Typical investments from those funds ranged from $50 to $150 million.
Greenbriar Equity Fund II posted a 2.8% IRR, according to CalPERS investment documents. Companies in that fund include Align Aerospace Holdings, a global distributor of aerospace fasteners and other hardware to aerospace original equipment manufacturers and PetroChoice, a distributor of petroleum lubricant services.