Insight

BayPine wraps up inaugural PE fund at about $2.2bn

BayPine Capital Partners Fund I's limited partners include public and private pension plans, sovereign wealth funds, endowments and foundations, insurance companies, family offices and high-net worth individuals.

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  • BayPine’s top principals are managing partner David Roux, a founder and former co-CEO and chairman of Silver Lake, and managing partner Anjan Mukherjee, an ex-senior managing director with Blackstone
  • The firm seeks to invest in in upper mid-market companies in healthcare, consumer, specialty industrials and business services sectors
  • BayPine is headquartered in Boston

BayPine has closed its debut private equity fund at about $2.2 billion, beating its $2 billion target.

BayPine Capital Partners Fund I’s limited partners include public and private pension plans, sovereign wealth funds, endowments and foundations, insurance companies, family offices and high-net worth individuals.

An earlier Buyouts article on this fund reported that Fund I’s placement agents are Alvine Capital, Brooklands Capital Strategies and Stifel.

BayPine was formed in 2019 by Managing Partners David Roux, co-founder and former Co-CEO and chairman of Silver Lake, and Anjan Mukherjee, former senior managing director at Blackstone and Counselor to the Secretary and Deputy Assistant Secretary for Financial Institutions at the U.S. Department of the Treasury.

The firm seeks to invest in in upper mid-market companies in healthcare, consumer, specialty industrials and business services sectors.

On the fundraising, Mukherjee said in a statement, “We are incredibly proud of the strong team we have assembled from premier investment firms and global operating companies, which provides BayPine and our portfolio companies with unrivaled financial and strategic expertise and deep, influential technology relationships. Moreover, we are grateful for the support of our institutional limited partners, who appreciate BayPine’s differentiated, purpose-driven investment approach.”

The fund is approximately one-third invested across three investments, including Penn Foster, a pioneering workforce development and online vocational skills company, Mavis Tire Express Services, a leading aftermarket tire and automotive service provider, and Pinnacle Dermatology, one of the largest dermatology management services organizations in the United States.

BayPine is headquartered in Boston.