Brown Brothers Harriman & Co., New York, is raising its third private equity fund, the 1818 Mezzanine Fund L.P. The fund is seeking institutions to raise its $250 million target. The first closing is expected in the fourth quarter, with a final closing next year. Investments start at $10 million for institutional investors and $5 million for individuals.
The fund will make investments in private companies worth $20 million to $200 million; it will be the firm's first fund investing in private companies. Brown Brothers' previous two funds, the 1818 Funds I and II, raised $325 million and $475 million, respectively.
