Private equity firm Greenbriar Equity Group has closed Greenbriar Equity Fund III on USD1.1 billion, the firm’s largest fund to date.
The fund’s broad range of limited partners includes foundations, university endowments, family offices, insurance companies, pension plans and other institutional investors.
The fund will follow the same strategy as its predecessors, Greenbriar Equity Fund and Greenbriar Equity Fund II. Since the inaugural fund closed in 2001, Greenbriar has made over 30 platform and follow-on acquisitions.
Regg Jones, co-founder and managing partner of Greenbriar, says: “We are extremely pleased with the strong show of support from many longstanding investors and by the reputation of the institutions investing in our fund. Utilising our distinct expertise, broad industry relationships, and knowledge of the global transportation sector, we look forward to continuing to deliver value for our partners.”
Co-founder and managing partner Joel Beckman says: “We intend to continue our strategy of investing in transportation companies exhibiting strong growth potential, superior management, solid financial performance, sustainable competitive advantage and the ability to capitalise on favourable secular trends.”
The fund has so far made two significant investments – Transplace Holdings, a provider of non-asset based third party logistics, intermodal and truck brokerage services; and Nordco Holdings, a provider of rail-related products and services.
Weil, Gotshal & Manges served as legal counsel for the fund.
