Brightstar Capital Partners Closes Fund II at $1.27 Billion Hard Cap
NEW YORK, April 15, 2021 – Brightstar Capital Partners, a private equity firm focused on partnering with families, founders, entrepreneurs, and management teams, announced today that it has successfully closed its second flagship fund at its hard cap, with total commitments of approximately $1.27 billion, inclusive of approximately $60 million from the general partner. Brightstar Capital Partners Fund II, LP (“Fund II”) marks the firm’s largest fund to date, having surpassed its $1.0 billion target. The firm additionally raised approximately $190 million from limited partners for co-investments alongside Fund II.
Founded in 2015 by Andrew Weinberg, Brightstar’s investment strategy is focused on control-oriented investments in North American middle market companies. The firm invests in closely held or family-owned businesses where it drives significant value by leveraging the operating and investment experience of its team as well as its extensive relationship networks. The firm has already deployed capital from Fund II in two platform investments – Brightstar Corp. and Amerit Fleet Solutions. Since its founding, Brightstar has completed 22 transactions and its portfolio companies employ over 11,000 people and generate aggregate annual revenue of over $6.0 billion.
“It has been an extraordinary time in so many ways and we are truly grateful for the support we received from new and existing investors during a period of tremendous uncertainty,” said Andrew Weinberg, Brightstar’s CEO and Managing Partner. “We will continue to focus on our ‘Us and Us’ model of investing, proprietarily sourcing opportunities with families, founders, entrepreneurs and management teams, ensuring that our principles align and rolling up our sleeves to add value.”
With the closing of Fund II, Brightstar has raised a total of $2.3 billion of committed capital from a diverse set of institutional investors including corporate and government-sponsored pension funds, sovereign wealth funds, family offices, endowments and foundations and insurance companies.
“As stewards of their capital, we appreciate the confidence our diverse base of investors has in the Brightstar team and our vision,” said Renee Noto, Brightstar’s Partner and President. “In addition to doubling our number of offices by adding locations in Nashville, Orange County and Palm Beach, we recently brought on 12 impressive new colleagues, bringing our total to more than 40 employees across the firm. Our entire team continues to perform admirably amid the COVID-19 pandemic.”
Eaton Partners served as the exclusive placement agent and Simpson Thacher & Bartlett LLP served as legal counsel.
About Brightstar Capital Partners
Brightstar Capital Partners is a private equity firm focused on partnering with exceptional families, founders, entrepreneurs and management teams where the firm is ideally positioned to drive value creation. Brightstar employs an operationally intensive approach that leverages its extensive experience and relationship network to help companies reach their full potential. For more information please visit www.brightstarcp.com.