Pine Brook Road Partners, a New York-based private equity firm, has announced the final closing of its first fund with total capital commitments in excess of USD1.43bn.
Pine Brook Road Partners, a New York-based private equity firm, has announced the final closing of its first fund with total capital commitments in excess of USD1.43bn.
In this fund, the firm will target equity investments of USD100m to USD200m. The firm is currently focused on the energy and financial services sectors.
Pine Brook says it uses the ‘line of equity’ structure that helps mitigate the investment risk. Unlike traditional private equity and leveraged buyout investments where all the capital is invested upfront, the approach advances capital over time as the investment opportunity becomes de-risked.
The fund is managed by a team of eight managing principals led by chief executive Howard Newman (pictured) and including Arnold Chavkin, Joseph Gantz, Robert Glanville, Robert Jackowitz, Craig Jarchow, Michael McMahon, and William Spiegel. These partners have worked together and invested successfully in the firm’s target sectors over several years.
‘We are very pleased to have completed a successful fundraising effort,’ says Newman, ‘We appreciate the support from our limited partners who understand our ‘Business Building’ investment strategy and are equally pleased that nine talented management teams have chosen to partner with Pine Brook to build their companies.’
The firm has completed nine investments in Pine Brook Capital Partners since inception in 2006.
