Firm: Brentwood Associates
Fund: Brentwood Associates Private Equity V LP
Target: $500 million
Placement Agent: UBS
The Los Angeles-based firm will seek $500 million for the fund, Brentwood Associates Private Equity V LP, a source close to the firm told Buyouts. The firm, which is finalizing marketing materials for the offering, will likely charge a standard 2 percent management fee and 20 percent of profits. The firm has tapped UBS’s private equity fund placement group is help it raise the fund.
Brentwood, which has its roots in the venture capital industry, focuses on growing consumer-oriented businesses, such as branded products, health and wellness, restaurants and specialty retail, among others. Its portfolio includes Chamilia, a jewelry designer; KMac Holdings Corp., a franchisee of KFC, Golden Corral and Taco Bell fast food restaurants; and Sundance Catalog, a retailer of women’s apparel and accessories that was founded by the actor Robert Redford. Brentwood typically invests $20 million to $100 million in companies with cash flow of more than $5 million.
A $500 million fund would mark a modest uptick in size for Brentwood, which raised $440 million in commitments for its fourth fund in 2008. Past investors have included the Colorado Public Employees’ Retirement System, Harvard Management Co. and the University of California, according to the Dow Jones Directory of Alternative Investment Programs.
The firm has about 14 investment professionals, led by William Barnum, its longest-serving partner, who joined the firm in 1984 and co-founded its private equity business.