Berkshire Partners closed its latest fund, Berkshire Fund XI, with about $7.8 billion in capital commitments, making it Berkshire’s largest fund since the firm’s inception in 1986.
The buyout fund's initial target was $6.5 billion, a spokesman said.
The fund was “meaningfully oversubscribed,” Berkshire said in a news release Oct. 30.
Investors in the fund included the $64.1 billion Nevada Public Employees’ Retirement System, Carson City; $830 million Tampa (Fla.) General Employees' Retirement Fund; and $198 million Laredo (Texas) Firefighters' Retirement System.
Berkshire is a multisector specialist focused on the middle market, and the firm strategically targets partnership opportunities with companies operating in the business services, industrials, consumer, healthcare, and technology and communications sectors.
