BayPine LP, a private investment firm, has closed its inaugural private equity fund, BayPine Capital Partners Fund I, at approximately $2.2 billion, exceeding its $2.0 billion target.
BayPine, founded in 2019, is led by David Roux, a co-founder and former co-chief executive officer of Silver Lake, and Anjan Mukherjee, previously a senior managing director at Blackstone. The fund’s capital, including the invested capital of co-investors participating directly and indirectly alongside the fund, totals approximately $3.0 billion. To date, the fund is approximately one-third invested across three investments, including Penn Foster, a workforce development and online vocational skills company, Mavis Tire Express Services, an aftermarket tire and automotive service provider, and Pinnacle Dermatology, a dermatology management service.
“We are incredibly proud of the strong team we have assembled from premier investment firms and global operating companies, which provides BayPine and our portfolio companies with unrivaled financial and strategic expertise and deep, influential technology relationships,” says Anjan Mukherjee, a BayPine founding partner. “Moreover, we are grateful for the support of our institutional limited partners, who appreciate BayPine’s differentiated, purpose-driven investment approach. The investments we have made to date – and their success since – are illustrative of our ‘digital alpha’ strategy, and we look forward to continuing to execute on a robust pipeline of opportunities as the partner of choice to management teams seeking to create value for their stakeholders through the effective application of technology.”