Brazos Private Equity to wind down following ‘no new fund’ revelation


stopsign_lrgTexas-based buyout house Brazos Private Equity Partners is reportedly set to wind down after revealing it will not raise another fund.

The firm’s management team plans to split in order to raise several independent vehicles according to peHub, which cited an LP source.

Brazos partner and general counsel Michael Salim told the site the firm would manage out its existing portfolio, but would not go into detail about the team’s future plans.

The firm pulled in $715m for its third fund in 2008 and has about 20 per cent left to deploy according to Salim, who said it would target both platform and bolt-on investments with the capital.

He added that the firm would not be looking for any fund or investment period extensions.

Brazos gathered $250m for its debut vehicle in 2000 and $400m for a follow-up fund in 2005.

Copyright © 2014 AltAssets