Brentwood Associates has closed its sixth fund with $1.2 billion in capital committed.
The fund exceeded its $750 million target and the raise gives the firm more than $2.4 billion in assets under management, according to the private equity shop. Brentwood’s last fund closed in November 2014 with $688 million in commitments.
Partner Eric Reiter said the firm’s new fund included commitments from 15 new limited partners. He noted Brentwood has grown its international investor pool as well.
“Our non-U.S. investor base increased from around 12 (percent) to 13 percent of our last fund to 30 (percent) to 35 percent,” Reiter said. “I think it represents where the market is right now, but also is part of our growing global reach.”
The firm is looking to acquire companies valued between $50 million and $500 million using its latest fund.
Deals & Dealmakers reporter Henry Meier can be reached at firstname.lastname@example.org. Follow him on Twitter @henry_meier.