Berkshire Partners closes $4.5bn mid-market fund

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Boston-based investment firm Berkshire Partners has closed its eighth private equity investment fund, Berkshire Fund VIII, on $4.5bn.

Fund VIII’s capital was subscribed primarily by institutional investors in previous Berkshire funds, the firm said. Investors include endowments, foundations, pension funds, insurance companies and sovereign wealth funds.

Berkshire targets middle market growth companies with acquisition values between $200m and $2bn. The firm aims to invest $50m to $500m of equity capital in each portfolio company. Sectors of interest include including consumer products and retail, business services, industrial manufacturing, transportation and communications.

The firm’s initial fund was raised in 1984. Including Berkshire Fund VIII, the firm has raised over $11bn of private equity capital.

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