Continuation Fund Provides Incremental Capital to Accelerate Growth and Support Future M&A New York, NY,…
Behrman Capital Completes $1.2 Billion Final Closing on New Buyout Fund
NEW YORK AND SAN FRANCISCO, May 7, 2001 – Behrman Capital, a private investment firm focused on emerging growth companies in the information technology, outsourcing, business services and contract manufacturing sectors, today announced that it has completed its final closing on a new private equity partnership, Behrman Capital III L.P.
Behrman Capital III L.P. closed with committed capital of $1.2 billion. Institutional investors accounted for 98% of the capital committed. Public pension funds accounted for 36% (including California Public Employees’ Retirement System ($150 million), New York State Common Retirement Fund ($100 million), Kansas Public Employees Retirement System; Los Angeles County Employees Retirement Association; Illinois State Board of Investment and the Ohio Bureau of Workers’ Compensation). Investors based outside the United States accounted for 22%; financial institutions 21%, funds of funds 10% and corporate pension funds 9% of committed capital.
“Today’s announcement marks a true milestone for us as we approach the $2 billion mark in total funds under management with a highly diversified limited partner base, ” said Darryl G. Behrman, Managing Partner at Behrman Capital. “We are particularly grateful for the steadfast support of our limited partners, many of whom have invested with increasing levels of commitment in each of the three funds we have managed since our founding in 1992. Fund II investors increased their commitments by 33% in Fund III. Moreover, we exceeded our fundraising goal during what has been both a challenging fundraising and economic environment. This resonates as a strong vote of confidence from our limited partners.”
“We have remained highly focused in our areas of domain expertise and view this focus as a sound foundation for our future growth,” added Mr. Behrman.
Based in New York City and San Francisco, Behrman Capital was founded in 1991 by Darryl G. and Grant G. Behrman. The firm invests in management buyouts, leveraged buildups and recapitalizations of established growth companies and provides expansion capital to emerging growth companies. The company’s investments are focused primarily in the information technology, outsourcing, business services and contract manufacturing sectors.