BBH Capital Partners Raises $802M For Oversubscribed Fifth Fund

Apr 21 2016 | 6:38pm ET

Brown Brothers Harriman’s private equity arm has closed its fifth fund with capital commitments of $802 million, surpassing its $600 million target. 

The new fund, named BBH Capital Partners V LP, will target investments in growing lower middle-market U.S. companies across sectors within key industries such as healthcare and business products & services. Capital included more than $110 million from the general partner and other BBH affiliates, according to a statement, which also noted the fund was oversubscribed.

BBH Capital Partners raised its $517.5 million fourth fund in 2011.

“We are grateful for the continued support from our existing investors, many of whom have partnered with us for several funds,” said partner and co-manager JP Paquin, in the statement. “Nearly all of our CP IV Limited Partners returned, and those that did increased their commitments to CP V by over 30%.” 

Investors in the new fund include a diverse mix of insurance companies, public and corporate pension funds, family offices, RIAs, endowments, foundations, and ultra-high-net-worth investors, the company said.

Evercore’s Private Funds Group acted as the exclusive third-party placement agent for the new fund in the U.S., Canada, and Europe, while Katten Muchin Rosenman LLP provided legal counsel, BBH Capital Partners said. 

BBH Capital Partners is a private equity strategy of global financial services company Brown Brothers Harriman & Co. The unit typically invests between $30 million and $100 million per platform investment in both control and non-control buyouts, growth financings, recapitalizations, buy-and-build strategies, and acquisitions.

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