Baird Capital announced the final close of its third global private equity fund, Global Fund III, at its $450 million hard cap. The fund exceeded the size of its predecessor by more than 30%.
The company said Global Fund III received commitments from all prior anchor investors despite what it described as a challenging fundraising environment. While additional investor demand existed, Baird Capital maintained the fund size at $450 million to preserve its strategy of investing in lower middle-market, founder-led businesses in the United States and United Kingdom.
Global Fund III will make growth equity and buyout investments ranging from $25 million to $75 million in B2B technology and services companies with revenues between $10 million and $100 million.
Baird Capital said its strategy leverages teams in Chicago and London to support lower middle-market companies pursuing operational improvements and international expansion. The firm highlighted its ability to provide flexible capital solutions and operational support as differentiators within the private equity market.
The fund has already completed three investments, including Evolute IQ, a U.K.-based native AI platform; Rapid Energy, a U.K.-based temperature-control equipment provider; and autoLOTO, a U.S.-based software and services company focused on workplace safety automation.
Baird Capital invests in B2B technology and services companies across North America and the United Kingdom and operates as the direct private investment arm of Robert W. Baird & Co.
KEY QUOTES:
“The successful close of Global Fund III underscores the trust our investors place in the Baird Capital platform. Their continued confidence validates our focus on partnering with lower-middle market, founder-led businesses as they pursue growth initiatives. Backed by an experienced team and a flexible investment approach, we’re well positioned to continue supporting companies as they scale and create long-term value.”
Gordon Pan, President, Baird Capital
“Our footprint across the U.S. and the U.K. is a key differentiator, particularly in the lower middle market. With longstanding experience supporting B2B technology and services companies on both sides of the Atlantic, we have a clear right to win in an increasingly homogenous private equity market. With our new fund, we look forward to building on this momentum by backing more founder-led businesses seeking flexible capital and a true partnership approach.”
James Benfield, Partner, Baird Capital
