NEW YORK, April 18, 2018 /PRNewswire/ -- BBH Capital Partners ("BBHCP"), the private equity arm of Brown Brothers Harriman & Co. ("BBH" or the "Firm"), today announced the final close of BBH Capital Partners Opportunities Fund, L.P. ("CP Opportunities Fund" or the "Fund") with capital commitments totaling $250 million, including approximately $50 million from the General Partner and other affiliated parties. CP Opportunities Fund was significantly oversubscribed and exceeded its initial capital commitment target of $200 million. The Fund closed at its hard cap.
The day-to-day activities of CP Opportunities Fund are led by Don Hardie, Patrick Kruczek and Jeff Price. Additional oversight of Fund activities, as well as BBHCP overall, is provided by Jeff Meskin, a BBH Partner and Head of Private Banking.
The Fund will target initial investments of up to $20 million in lower middle-market U.S. companies whose development stage or capital needs are below the minimum investment thresholds for BBH Capital Partners V, L.P. ("CP V"). CP Opportunities Fund's investment strategy will be consistent with BBHCP's long-standing approach, namely, targeting investments in growing lower-middle market U.S. companies across a range of sectors within which the team has specific expertise: (i) Healthcare; (ii) Technology, Media & Telecommunications; and (iii) Business Products & Services. BBHCP employs a differentiated, flexible investment approach to make majority and significant minority investments in partnership with business owners and outstanding management teams. CP Opportunities Fund complements CP V's ongoing private equity investment activities by expanding the range of available investment opportunities. As such, BBHCP can now fully participate in the lower middle-market segment for U.S. private equity investments.
The Fund was raised primarily from BBH Private Banking clients, as well as affiliates of BBH, the Fund and the General Partner. "The Fund represents a compelling investment opportunity for our clients and provides a high degree of alignment with BBH overall through the significant investment made by the General Partner and its affiliates," said Mr. Meskin. "In this way, we invest alongside our clients and work together, seeking to generate superior results."
BBH did not utilize a placement agent for the Fund. Katten Muchin Rosenman LLP provided legal counsel.
About Brown Brothers Harriman
BBH is a privately held financial institution that has been a thought leader and solutions provider for nearly 200 years. The Firm serves individuals, families, businesses and institutions in its three business lines: Private Banking, Investment Management and Investor Services.
SOURCE Brown Brothers Harriman & Co. (BBH)