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BBH Capital Partners Fund VI closes at USD802m

BBH Capital Partners, the private equity arm of Brown Brothers Harriman & Co (BBH) has held final close of BBH Capital Partners V (CP V) with capital commitments totalling USD802 million, including more than USD110 million from the General Partner and Affiliates. 

CP V – which was oversubscribed – exceeded its initial capital commitment target of USD600 million.

CP V is led by its Co-Managers – Partners Jeffrey Meskin and JP Paquin, and Managing Directors Bradley Langer and Michael Boylan – as well as two additional Principals, Managing Director Ivan Pirzada and Senior Vice President Richard Yeh. The Co-Managers have spent nearly 16 years together on average managing funds with total capital commitments in excess of USD2.15 billion. CP V is the successor fund to BBH Capital Partners IV (CP IV), a USD517.5 million fund raised in 2011.

BBH Capital Partners primarily targets investments in growing lower middle market U.S. companies across a broad range of sectors within industries in which the team has specific expertise: (i) Healthcare; (ii); and (iii) Business Products & Services. BBH Capital Partners employs a differentiated, flexible investment approach to make majority and significant minority investments in partnership with outstanding management teams.

“We are grateful for the continued support from our existing investors, many of whom have partnered with us for several funds. Nearly all of our CP IV Limited Partners returned, and those that did increased their commitments to CP V by over 30 per cent,” says Paquin, Co-Manager of CP V. “We were also fortunate to have attracted a number of high quality Limited Partners to CP V who are partnering with us for the first time – validating our differentiated investment approach and historical performance.”

CP V draws investors from a broad geography with representation in the U.S., Asia, Latin America, the Middle East, and Europe. The Fund includes a diverse mix of insurance companies, public and corporate pension funds, family offices, RIAs, endowments, foundations, and ultra-high-net-worth investors.

“BBH Capital Partners is unique among lower middle market private equity funds because of our affiliation with the larger BBH and our flexible investment approach,” says Meskin, Co-Manager of CP V. “Owners and operators of businesses look to us as a true partner. Our flexibility enables us to solve their capital needs without any predisposition to a certain structure or transaction type. At the same time, we bring more than just capital to our businesses, whether it is through specific domain expertise, the involvement of our Operational Resources Group, or the relationship and intellectual capital of the broader BBH network.

“CP V has a deep pipeline of attractive investment opportunities. No matter the market for private equity, BBH Capital Partners will continue to employ our strict investment criteria with discipline to ensure that we maximise returns for our Limited Partners while controlling risk.”

Evercore’s Private Funds Group acted as the exclusive third-party placement agent for CP V in the US, Canada, and Europe. Katten Muchin Rosenman LLP provided legal counsel.

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