Twin Bridge Capital Partners Closes Fifth Flagship Fund with More Than $880m in Commitments

Jun 27, 2022 | News | 0 comments

Twin Bridge Capital Partners announced it closed its fifth flagship lower middle market fund, Pacific Street Fund V, with more than $880m in capital commitments.

Fund V was oversubscribed and exceeded its $800m target. The private equity firm targets investments in the North American small and lower middle market.

“We believe the small and lower middle markets will continue to provide the best risk reward balance as these companies typically have multiple avenues to value creation,” said Brian Gallagher, Partner at Twin Bridge. “Manager selection is critical in these uncertain markets, and we are grateful to our limited partners who have expressed confidence in our ability to recognize opportunity and create value.”

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Twin Bridge has raised over $3.9bn in capital and has invested in more than 200 funds and co-investments since the firm’s inception in 2005. Fund V will continue to invest in a diversified mix of top performing lower middle market buyout funds targeting between $400m and $2bn in investor commitments, and co-investments alongside the fund sponsors. Similar to prior Pacific Street Series funds, Fund V will allocate between $25-$35m for fund investments, and between $10-$25m for co-investments, and will be well diversified by vintage, investment type, sector/industry, and geography.

Fund V received commitments from a broad and diversified list of endowments, foundations, corporate pension plans, family offices, registered investment advisors, and high-net-worth individuals, many that have invested with Twin Bridge previously.

Twin Bridge’s Pacific Street Fund V has closed on 25 investments including Carousel Capital Partners VI, L.P. and Shamrock Capital Growth Fund V, L.P.

The firm’s prior Pacific Street fund, Pacific Street IV, L.P. closed in 2017 with $779m in commitments.

Kirkland & Ellis LLP served as legal advisor to Twin Bridge.

Source: PR Newswire

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