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Alternative Assets  + Private Equity  |  April 18, 2023
A Texas Size Debut Fund - Braemont Closes on $500M Growth Equity fund
Joe Palmisano
By: Joe Palmisano

A Texas Size Debut Fund – Braemont Closes on $500M Growth Equity fund

Dallas-based Braemont Capital, a private investment firm that partners with founders, families and ownership-focused management teams, has closed its debut fund – Braemont Partners I – at $525 million, making it the largest first-time growth equity fund raised in Texas history, according to the firm.

The firm, which was launched by former RedBird Capital partner Robert Covington in 2021, was eyeing a $500 million target.

The firm’s investments focus on defensive growth niches where it has prior or developed experience across the technology, business and financial services sectors.

“The closing of our first growth equity fund is an important milestone for Braemont and allows us to continue supporting entrepreneurs seeking investors who can serve as genuine strategic and value-added partners,” said Covington.

While at RedBird Covington’s investments included data center facilities developer Compass Datacenters and tech-enabled sales specialist N3 Sales Partnering.

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Braemont Capital

About Joe Palmisano

Joe Palmisano is editorial director of Connect Money, where he oversees daily coverage of alternative assets, direct investments, financial advisory and the economy. He brings three decades of experience as a financial journalist, analyst and portfolio manager. Before joining Connect Money, Palmisano wrote for The Wall Street Journal, covering foreign exchange, global fixed-income and equity markets. He later served as a senior research analyst and portfolio manager, producing market analysis and managing foreign exchange and U.S. equity portfolios for FX Concepts. His work has also appeared in SFO Magazine and CMT Association publications. Palmisano earned a bachelor’s degree in finance from The American University and holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.
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