Berkshire Partners—a Boston-based private equity firm focused on the middle market—announced the closing of Berkshire Fund XI with about $7.8 billion in capital commitments, making it Berkshire’s largest fund since the firm’s inception in 1986. Fund XI was meaningfully oversubscribed, which the firm believes emphasizes investors support for the firm’s multi-sector middle market investment strategy.
As a multi-sector specialist focused on the middle market, Berkshire strategically targets partnership opportunities through companies operating in four key industry sectors: business services and industrials, consumer, healthcare, and technology and communications.
The depth of Berkshire’s highly-aligned, long-tenured investment team positions the firm to identify attractive investment opportunities and leverage the necessary resources and capital to guide portfolio companies through all phases of expansion and operational enhancement.
Kirkland & Ellis served as the legal counsel to Berkshire Partners.
KEY QUOTE:
“We are grateful to have received this level of support from a terrific group of sophisticated, global investors, both existing and new, as demand exceeded our original target fund size. We believe our team’s history supporting the transformation of high-potential middle market companies into enduring leaders across economic cycles resonated with investors, and we feel confident that we are well-positioned to continue deploying capital and earning attractive returns within the sectors we’re targeting.”
– Mike Ascione, Managing Director at Berkshire Partners
