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TowerBrook Nears $4B Fund Goal Amid Tough Market
1 May
Summary
- TowerBrook aims to raise $4 billion for its latest fund.
- The firm has already secured $2.7 billion in commitments.
- North American investors and existing backers are key.
TowerBrook Capital Partners has achieved initial success in its fundraising efforts, securing commitments of approximately $2.7 billion for its newest flagship fund, TowerBrook Investors VII. The firm is targeting a total of $4 billion for this fund and anticipates a second close in late June.
North American investors represent about half of the current allocations. A significant factor in this early success is the strong commitment from existing backers, who account for over 80% of the total secured so far.
This fundraising milestone occurs despite a generally difficult market for private equity firms, characterized by challenges in exiting investments and returning capital to investors. TowerBrook, which manages over $26 billion in assets and focuses on majority investments in North America and Europe, was founded in the 2000s and has recently undergone leadership succession planning.
