Brentwood Associates closes USD190m Opportunities Fund

Brentwood Associates (Brentwood), a Los Angeles-based private equity firm, has closed the Brentwood Associates Opportunities Fund, with USD190 million in capital commitments.

The fund has has completed the purchase of selected legacy assets from two of Brentwood’s prior funds and provided liquidity to its investors.

The transaction, which was led by Spring Bridge Partners, with significant backing from Hollyport Capital and other institutional investors, provides capital and additional flexibility to support the growth of the portfolio companies included in the transaction.

“We are excited to partner with these highly respected and experienced institutional investors in a structured transaction that allows us to provide a liquidity option to our limited partner investors, who patiently supported the growth and development of these portfolio companies,” says Bill Barnum, partner at Brentwood Associates.

Eric Reiter, partner at Brentwood Associates, adds: “The completion of the Fund will enable us to continue to support our management teams and execute on the well-defined expansion plans at our portfolio companies. While our portfolio companies have achieved significant growth and operational milestones, the additional capital and the Fund’s patient investor base will allow us to reinvest in growth and maximise returns for our new investors.”

Luca Salvato, Managing Partner at Spring Bridge Partners, says: “We are looking forward to our partnership with Brentwood and its portfolio companies in maximising long-term value for all parties involved.” Sebastien Burdel, his co-Managing Partner, added, “Spring Bridge continues to establish itself as the partner of choice for GPs in the middle-market seeking creative capital solutions and we are proud to partner with Brentwood around this opportunity.”

PJT Partners served as exclusive financial advisor, and Kirkland & Ellis served as legal advisor to Brentwood. Kirkland & Ellis also served as legal advisor to Spring Bridge Partners.