Towerbrook tears past targets for new fund pair, hits $5.3bn for “one and done” final closes


Towerbrook Capital Partners has powered past the targets for a pair of new private equity funds to hold “one and done” closes for the vehicles on a total of $5.3bn.

The firm hit its hard cap amounts for Towerbrook V and TowerBrook Structured Opportunities II, pulling in $4.25bn and $1.05bn respectively for the funds.

Towerbrook hit the market for both funds less than five months ago, with the flagship vehicle comfortably beating the $3.5bn the firm gathered for its predecessor vehicle in 2013.

The firm smashed its $600m target for its debut Structured Opportunities fund in 2015, reportedly securing $800m of commitments in November that year according to PENews.

It had not publicly revealed how much it eventually gathered for that fund.

TowerBrook V will focus on control-oriented investments, while TSO II will be used to invest “in the many attractive not-for-control opportunities generated by TowerBrook’s activity”, the firm said.

Ramez Sousou, co-CEO of TowerBrook, said, “We are delighted to have received such strong investor support and are proud of what it signals about our firm.

“The success of the fundraise is a direct reflection of our investors’ confidence in TowerBrook’s distinctive investment strategy and its disciplined deployment over the past 18 years.”

Towerbrook, which is based in Europe and the USA, has more than $12.4bn under management.

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