- Twin Bridge has raised over $3.9 billion in capital since its founding in 2005
- Twin Bridge’s prior Pacific Street fund, Pacific Street IV, L.P. closed in 2017 at $779 million
- Kirkland & Ellis LLP served as legal advisor to Twin Bridge on the fundraising
Twin Bridge Capital Partners has closed its fifth flagship lower middle market fund, Pacific Street Fund V at more than $880 million, beating its $800 million target.
Fund V’s limited partners include endowments, foundations, corporate pension plans, family offices, registered investment advisors, and high-net-worth individuals.
On the fundraising, Brian Gallagher, a partner at Twin Bridge, said in a statement: “We believe the small and lower middle markets will continue to provide the best risk reward balance as these companies typically have multiple avenues to value creation. Manager selection is critical in these uncertain markets, and we are grateful to our limited partners who have expressed confidence in our ability to recognize opportunity and create value.”
Twin Bridge has raised over $3.9 billion in capital and has invested in more than 200 funds and co-investments since the firm’s inception in 2005. Fund V will continue to invest in a diversified mix of top performing lower middle market buyout funds targeting between $400 million and $2 billion in investor commitments, and co-investments alongside the fund sponsors. Similar to prior Pacific Street Series funds, Fund V will allocate between $25 million and $35 million for fund investments, and between $10 million and $25 million for co-investments.
Twin Bridge’s Pacific Street Fund V has closed on 25 investments including Carousel Capital Partners VI, L.P. and Shamrock Capital Growth Fund V, L.P.
The firm’s prior Pacific Street fund, Pacific Street IV, L.P. closed in 2017 at $779 million.
Kirkland & Ellis LLP served as legal advisor to Twin Bridge.