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Brynwood Partners hits $400m hard cap for latest fund

25 Sep 2013

dollars pile moneyLower mid-market focused firm Brynwood Partners has closed its seventh fund on its $400m hard cap.

The firm said that Brynwood Partners VII received strong support from its existing limited partners.

It added that it will continue to evaluate add-on acquisitions opportunities for the five portfolio companies in its sixth fund, while seeking platform investment opportunities for the new vehicle.

Brynwood senior managing partner Hendrik Hartong said, “We are both pleased and proud to announce the first and final close of Brynwood VII with $400 million of committed capital, the largest fund in our 29 year history.

“We are fortunate to have been able to reach our hard cap target with one close. The high level of interest in our fund from the investment community validates our belief that returns in the lower middle market are primarily driven by operational improvements at the portfolio company level.”

The Greenwich, Connecticut-based firm currently has more than $900m under management. Its LPs include US and international pension funds, fund-of-funds, endowments, high net worth family investment offices and financial institutions.

Brynwood’s portfolio companies include High Ridge Brands, which bought White Rain, the Adorn, The Dry Look, Mink and Toni brands last year.

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