Transport-focused private equity firm Greenbriar holds $1.1bn Fund III final close


transport railway green lightTransportation-focused buyout house Greenbriar Equity Group has narrowly raised its biggest fund to date by holding a $1.1bn final close for its third vehicle.

Greenbriar was hoping to collect up to $1.25bn according to a source with knowledge of the fundraise, who spoke to AltAssets back in November 2012.

Pulling in $1.1bn means the firm has pipped the $1bn it gathered for Fund II in 2007.

That vehicle easily beat its $750m target, which was chosen to be just higher than the firm’s $700m debut fund from 2001.

Greenbriar said the latest vehicle would continue its strategy of investing between $50m and $150m in transport carriers, manufacturers and associated services, through buyout, recapitalisations, growth deals and corporate joint ventures.

Fund III has already been tapped for investments in third-party logistics and truck brokerage business Transplace and railway maintenance equipment maker Nordco.

The firm picked up Nordco from the private equity investment arm of Canadian pension giant OMERS last August.

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