Greenbriar Equity Targets $1.25B For Fund III

Greenbriar Equity Group, a buyout firm focused on the transportation industry, is out fundraising for its third fund, according to a peHUB source and an SEC filing. Greenbriar Equity Fund III LP is looking to raise $1.25 billion, the source said. Park Hill is the placement agent for Fund III, an SEC filing dated Nov. 20 says.

Rye, N.Y.-based Greenbriar collected $1 billion with its second pool in 2007, surpassing an initial target of $750 million. Fund II has generated a net IRR of zero as of March 31, according to the California Public Employees’ Retirement System.

Bloomberg News reported the Greenbriar fundraising in September.

Founded in 1999, Greenbriar focuses on the transportation industry. The firm typically invests $50 million to $150 million per deal, according to the firm’s Web site. Greenbriar invests in carriers like airlines, cruise lines and railroads, as well as automotive and shipping manufacturers.

Greenbriar bought PetroChoice, a distributor of petroleum lubricant services, this year. In 2011, a group controlled by Greenbriar and Berkshire Partners sold AmSafe Global, which supplies engineered, safety and restraint equipment used in the aerospace industry, to TransDigm Group for about $750 million.

Executives of Greenbriar couldn’t immediately be reached for comment.

Luisa Beltran is a senior writer for peHUB.