Brightstar Capital Partners, a private equity firm focused on partnering with families, founders, entrepreneurs, and management teams, has closed its second flagship fund at its hard cap, with total commitments of approximately $1.27 billion, inclusive of approximately $60 million from the general partner. Brightstar Capital Partners Fund II LP marks the firm’s largest fund to date, having surpassed its $1.0 billion target. The firm additionally raised approximately $190 million from limited partners for co-investments alongside the second fund.
Brightstar’s investment strategy is focused on control-oriented investments in North American middle market companies. The firm invests in closely held or family-owned businesses. The firm has already deployed capital from the second fund in two platform investments, Brightstar Corp. and Amerit Fleet Solutions.
“It has been an extraordinary time in so many ways and we are truly grateful for the support we received from new and existing investors during a period of tremendous uncertainty,” said Andrew Weinberg, Brightstar’s CEO and managing partner. “We will continue to focus on our ‘Us and Us’ model of investing, proprietarily sourcing opportunities with families, founders, entrepreneurs and management teams, ensuring that our principles align and rolling up our sleeves to add value.”
“As stewards of their capital, we appreciate the confidence our diverse base of investors has in the Brightstar team and our vision,” said Renee Noto, Brightstar’s partner and president. “In addition to doubling our number of offices by adding locations in Nashville, Orange County and Palm Beach, we recently brought on 12 impressive new colleagues, bringing our total to more than 40 employees across the firm. Our entire team continues to perform admirably amid the COVID-19 pandemic.”
Eaton Partners served as the exclusive placement agent and Simpson Thacher & Bartlett LLP served as legal counsel.