January 27, 1998
Behrman Capital, a private investment firm focused on emerging growth companies, today announced that it has completed a final closing on a new private equity partnership, Behrman Capital II L.P.
Behrman Capital II L.P. closed with total committed capital of $518 million, including the previously announced commitment of $150 million from the California Public Employees’ Retirement System (CalPERS) which acted as the lead investor, and $50 million from the New York State Common Retirement Fund. Other participants in the buyout fund included Kansas Public Employees’ Retirement System, teachers insurance and Annuity Association (TIAA), Pfizer Retirement Annuity Plan, Mead Corporation, UNISYS Master Trust, BankAmerica Capital Corporation, Chase Capital Partners, NationsBank Corporation, SBC Warburg Dillion Read and the National Geographic Society.
Behrman Capital invests in management buyouts of growth companies focused on the health care services, outsourced manufacturing and information technology industries, as well as special situations. The firm also provides expansion capital to emerging growth companies, principally in the high technology and health care services industries.
“The investment community’s strong interest in Behrman Capital II reflects the success of our niche strategy and our disciplined investment approach,” said Darryl G. Behrman, a Managing Partner of Behrman Capital. “We are actively exploring opportunities to put these new funds to work with the objective of continuing to provide superior returns to our limited partners. The Fund’s first investment is scheduled to close in the next few weeks.”
Philadelphia-based Hamilton Lane Advisors, Inc. served as advisor to several of the financial institutions which invested in the new Behrman Capital fund and will be represented on the Advisory Board together with CalPERS, NY State and Portfolio Advisors, Inc.
Based in New York City and San Francisco, Behrman Capital was founded in 1991 by Darryl G. and Grant G. Behrman. With the final closing of the new fund, the firm currently has combined capital base exceeding $640 million.