Seattle-based buyout firm Evergreen Pacific Partners has closed its second fund with $425 million. Investors in Evergreen Pacific Partners II include the Washington State Investment Board, the Public School Employee Retirement System of Pennsylvania, Credit Suisse and the Guardian Life Insurance Co. of America.
Evergreen invests in traditional buyouts, management buyouts and growth equity investments involving traditional industry, mid-market companies in the Western U.S. and Canada. T.J. McGill, one of three managing partners at Evergreen, said the firm will continue to focus on investing in companies in traditional industries based in the West.
“We stayed consistent with our stated strategy and focus and our existing investors appreciated this,” he said.
Evergreen currently manages two private equity funds totaling of $700 million.