Greenbriar Equity Group Closes Sixth Fund at Nearly $3.5B

Industrial specialist private equity firm Greenbriar Equity Group held the final close of its sixth fund – Greenbriar Equity Fund VI – at $3.475 billion, its largest fund to date, despite a difficult environment for private equity fundraising.

The raise easily surpassed its $2.75 billion target and more than doubled the amount raised for its predecessor fund at $1.68 billion. The capital for the new fund also included $225 million from the general partner and operating executives.

The fund will continue the Connecticut-based firm’s core strategy of investing in services and manufacturing businesses, where competition from other private equity firms is relatively limited.

“Particularly during this period of market uncertainty, it is a recognition of the long-term benefits of our consistent and focused strategy, cohesive long-tenured team, collaborative culture, and hands-on approach to value creation with our portfolio companies,” noted Noah Roy, Greenbriar Managing Partner.

Evercore acted as Greenbriar’s global placement agent and Kirkland & Ellis LLP served as fund counsel.