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BayPine raises around $3bn for inaugural private equity fund

BayPine has closed its inaugural private equity fund, BayPine Capital Partners Fund, at approximately $2.2 billion, exceeding its $2.0 billion target. Including the invested capital of co-investors participating directly and indirectly alongside the fund, the fund’s capital totals approximately $3.0 billion. 

The fund’s investor base is comprised of leading global institutions, including public and private pension plans, sovereign wealth funds, endowments and foundations, insurance companies, family offices and high net worth individuals.

BayPine was formed in 2019 by Managing Partners David Roux, Co-Founder and former Co-CEO and Chairman of Silver Lake, and Anjan Mukherjee, former Senior Managing Director at Blackstone and Counselor to the Secretary and Deputy Assistant Secretary for Financial Institutions at the US Department of the Treasury. 

BayPine’s team of established investors and operators aims to drive value in its portfolio companies by developing and implementing a comprehensive digital transformation agenda, enabling businesses to modernise and capture their full growth potential. In addition to Messrs Roux and Mukherjee, BayPine’s Founding Partners, Wan Ling Martello, Marius Haas, Brian Frank, and Steve Ko, possess over 180 years of collective investing and business-building experience.

The Fund is approximately one-third invested across three investments, including Penn Foster, a workforce development and online vocational skills company, Mavis Tire Express Services, an aftermarket tyre and automotive service provider, and Pinnacle Dermatology, one of the largest dermatology management services organisations in the United States.

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