Twin Bridge collects $440m for fifth lower mid-market buyout fund

Twin Bridge Capital Partners has raised $440 million for its fifth small and lower-middle market buyout fund, beating its $400 million target. Twin Bridge Narrow Gate Fund’s limited partners include endowments, insurance companies, corporate pensions, foundations, family offices, registered investment advisors and high-net-worth individuals. Kirkland & Ellis LLP served as legal advisor to Twin Bridge on the fundraising. Founded in 2005, Twin Bridge has raised more than $3.5 billion in capital, according to the firm.

PRESS RELEASE

CHICAGO, March 24, 2021 /PRNewswire/ — Twin Bridge Capital Partners (“Twin Bridge” or “the Firm”), a private equity firm that targets investments in the North American small and lower middle-market through a combination of fund investing and co-investing, today announced it closed its fifth fund, Twin Bridge Narrow Gate Fund, L.P. (“Narrow Gate” or “the Fund”), with $440 million in capital commitments. The Fund was oversubscribed and exceeded its $400 million target.

“Some of the very best opportunities in private equity come from next-generation and established managers in the small market. However, manager selection remains paramount as there are certain attributes we’ve found the most successful firms have in common,” said Matt Petronzio, Partner at Twin Bridge. “We want to thank our investors for their continued confidence in Twin Bridge to identify and partner with some of the highest quality small market buyout managers – those who we believe have differentiated track records of success and compelling value propositions.”

Twin Bridge has invested in the lower part of the middle-market for the last 16 years, but Narrow Gate is the Firm’s first fund focused exclusively on small market buyouts. Through Narrow Gate, Twin Bridge seeks to provide investors with diversified exposure to a select group of difficult-to-access North American small market buyout funds, generally targeting $400 million or less in investor commitments, as well as a complementary set of equity co-investments made alongside those sponsors. The underlying portfolio investments typically have enterprise values of $100 million or less. Once Narrow Gate is fully deployed, the portfolio is expected to be comprised of approximately 18-20 fund investments and 15-18 equity co-investments and diversified across vintage year, strategy, and industry.

The Fund received commitments from a broad and diversified list of limited partners, including endowments, insurance companies, corporate pensions, foundations, family offices, registered investment advisors, and high-net-worth individuals.

Twin Bridge has invested in over 90 funds with more than 50 unique sponsors and has made more than 65 equity co-investments alongside 35 unique sponsors over its 16-year history.

Kirkland & Ellis LLP served as legal advisor to Twin Bridge.

About Twin Bridge Capital Partners
Twin Bridge Capital Partners is a Chicago-based private equity firm with deep experience investing in the North American small and lower middle-market buyout industry. The Firm seeks to invest in leveraged buyout funds and non-control equity co-investments across multiple industries. Twin Bridge has raised more than $3.5 billion in capital since its founding in 2005. More information is available at www.twinbridgecapital.com.