Friday, 27 May 2016
Last updated 11 min ago
Mar 27 2008 | 11:41am ET
Stamford, Connecticut-based Newbury Partners, a secondary buyout firm, recently held a first close on its maiden private equity fund at $702 million.
Investors in the fund, which was launched at the end of 2006 with a $700 million target, reportedly include New York Life, 3M Pension Fund and APIII, according to AltAssets.
The firm said the new fund is already 20% invested, with most of its having been completed following the subprime mortgage crisis in summer of last year.
Newbury Partners is a spin-off from Auda Private Equity.