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Ex-Blackstone exec Robert Reid joins BDT Capital

Reid joins the firm as it moves through raising its third fund, which collected at least $6.3 billion as of May 2019.

Robert Reid, a veteran executive who left Blackstone Group last year, joined BDT Capital to co-lead the New York office, a BDT spokesperson confirmed for Buyouts

Reid, who joined as partner, started this month, the spokesperson said. He also joined the firm’s investment committee. 

Reid jumps onboard as the firm moves through raising its third fund, which collected at least $6.3 billion as of May 2019, according to a Form D fundraising document. 

Reid worked at Blackstone from 1998 to last year, when he left to pursue other opportunities, Buyouts reported at the time. He was made senior managing director at Blackstone in 2010, and tasked with leading the London office in 2012. 

Reid worked on some of Blackstone’s most high-profile investments, including in Adelphia Communications, Centennial Communications, Charter Communications, Crowley Digital (Salmon PCS), Extended Stay America, FiberNet, Hilton Hotels and Scout24. 

BDT, formed by ex-Goldman Sachs banker Byron Trott in 2009, provides both advisory services to founder and family led businesses and manages investment funds. BDT calls itself a merchant bank rather than a private equity firm. 

BDT closed its first fund on $3 billion in 2011 and $6.2 billion for Fund II in 2016 (Fund II had an initial close on $5.2 billion in 2014 and reopened to investors in 2015). 

The firm is out in market with its third fund, which raised at least $6.3 billion as of May, according to a Form D fundraising document. It’s not clear how much Fund III is targeting. 

In June, BDT Capital agreed to acquire outdoor consumer products company Lew’s from Peak Rock Capital. It also acquired a majority stake in Whataburger, according to a June announcement. 

Action Item: Check out BDT’s Form ADV here: https://bit.ly/2QyaOqw