Boston-based investment firm Berkshire Partners LLC, which has dabbled occasionally in being a tech investor, has closed on its eighth private equity fund, logically called Berkshire Fund VIII, at a value of $4.5 billion.
According to a press release, Fund VIII’s capital came mainly from institutional investors in previous Berkshire funds, including endowments, foundations, pension funds, insurance companies and sovereign wealth funds.
Berkshire said in the release that it wants to invest in “middle market growth companies in partnership with talented management teams” with the funds available in Fund VIII. Berkshire officials said it will invest $50 million to $500 million in each portfolio company.
Since it launched its initial fund in 1984, Berkshire has raised more than $11 billion in private equity capital, and invested in more than 100 midsize companies. Among those were Nashua, N.H.-based e-learning and training company SkillSoft plc, which was acquired by SSI Investments III Ltd. in April of 2010 for $1.2 billion. Also among its local tech investments was Boston-based SmartBargains Inc., which was acquired by Retail Convergence Inc. in 2008, after failing to execute on an IPO.
Source: www.masshightech.com
According to a press release, Fund VIII’s capital came mainly from institutional investors in previous Berkshire funds, including endowments, foundations, pension funds, insurance companies and sovereign wealth funds.
Berkshire said in the release that it wants to invest in “middle market growth companies in partnership with talented management teams” with the funds available in Fund VIII. Berkshire officials said it will invest $50 million to $500 million in each portfolio company.
Since it launched its initial fund in 1984, Berkshire has raised more than $11 billion in private equity capital, and invested in more than 100 midsize companies. Among those were Nashua, N.H.-based e-learning and training company SkillSoft plc, which was acquired by SSI Investments III Ltd. in April of 2010 for $1.2 billion. Also among its local tech investments was Boston-based SmartBargains Inc., which was acquired by Retail Convergence Inc. in 2008, after failing to execute on an IPO.
Source: www.masshightech.com
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