Berkshire Partners has held the closing of the firm's ninth private equity investment fund, Berkshire Fund IX, with total equity commitments of USD5.5 billion.
Fund IX's capital was subscribed primarily by institutional investors in previous Berkshire funds. Investors include many of the world's largest endowments, foundations, pension funds and financial institutions. Consistent with its philosophy of alignment with limited partners, Berkshire is the largest investor in Fund IX.
Berkshire seeks to invest in middle market growth companies in partnership with talented management teams. Fund IX's portfolio is expected to consist of companies with acquisition values between USD200 million and USD2 billion. The firm aims to invest USD50 million to USD500 million of equity capital in each portfolio company.
Since its inception thirty years ago, Berkshire has completed over 115 investments in mid-sized companies and developed specific industry experience in several areas including consumer products and retail, business services, communications, industrials and transportation. Berkshire's private equity investment staff numbers over 60 professionals and is led by the firm’s 24 managing directors.
Weil, Gotshal & Manges LLP served as fund counsel. The firm engaged no intermediary to assist in fundraising.
