New York-based investment house Pine Brook Partners has held a $2.43bn final close for its second fund targeting the financial services and energy sectors.
Pine Brook Capital Partners II easily beat its $2bn target, and has already invested $300m across five deals according to the firm.
The new vehicle has nearly 70 per cent more committed capital than its $1.4bn debut raised in 2009, with about half of the money coming from new investors.
Fund II will target investments in new and growing companies in the financial services and energy sectors, typically financed through equity rather than debt.
Co-founder and financial services team head William Spiegel said, “There is no shortage of macro factors driving investment opportunities in both of our targeted sectors, including regulatory changes, demographic shifts and financial repression in the financial services industry, and the unconventional revolution in oil and gas.”
Credit Suisse acted as a placement agent for the fund.
Copyright © 2014 AltAssets