Brockway Moran & Partners Announces First and Final Closing of Its Third Private Equity Fund at $700 Million.BOCA RATON Boca Raton (bō`kə rətōn`), city (1990 pop. 61,492), Palm Beach co., SE Fla., on the Atlantic; inc. 1925. Boca Raton is a popular resort and retirement community that experienced significant industrial development in the 1970s and 80s. , Fla. -- Brockway Moran & Partners, Inc., a Florida-based private equity firm, announced today the first and final closing of its third private equity fund, Brockway Moran & Partners Fund III, L.P. ("Fund III"). The Fund was heavily oversubscribed Refers to connecting more users to a system than can be fully supported if all of them were using it at the same time. Networks and servers are almost always designed with some amount of oversubscription, counting on the fact that everybody does not need the service simultaneously. by existing investors and a limited number of new participants, and had a hard cap of $700 million. The firm had targeted $600 million for Fund III, while the firm's prior fund, Brockway Moran & Partners Fund II, L.P. ("Fund II"), whose investment period began in 2002, totaled $410 million. "We are exceptionally pleased that each active institutional investor Institutional Investor A non-bank person or organization that trades securities in large enough share quantities or dollar amounts that they qualify for preferential treatment and lower commissions. from Fund II chose to invest in Fund III, and we are happy to welcome a select number of well-regarded new investors in Fund III," said Peter C. Brockway, Managing Partner of Brockway Moran & Partners. "We decided to limit Fund III to $700 million in order to reach an appropriate balance between maintaining our historic focus and recognizing the increasing depth and experience of our investment team." Fund III's investors represent a diversified base of distinguished fund of funds Fund of Funds A mutual fund that invests in other mutual funds. Notes: For example, an investor would select a general risk profile and the fund-of-funds manager would pick underlying investments from a range of products managed by external managers. , endowments/foundations, corporate and public pension funds, and leading financial institutions. Participating investors in Fund II and Fund III include Goldman Sachs The Goldman Sachs Group, Inc., or simply Goldman Sachs (NYSE: GS) is one of the world's largest global investment banks. Goldman Sachs was founded in 1869, and is headquartered in the Lower Manhattan area of New York City at 85 Broad Street. , Adams Street Partners, Wilshire Associates, Pathway Capital Management, HarbourVest Partners, Shott shott n. Variant of chott. shott or chott A shallow lake or marsh with brackish or saline water, especially in northern Africa. Capital Management, Private Advisors, Princeton University, Massachusetts Institute of Technology Massachusetts Institute of Technology, at Cambridge; coeducational; chartered 1861, opened 1865 in Boston, moved 1916. It has long been recognized as an outstanding technological institute and its Sloan School of Management has notable programs in business, , University of Chicago, Virginia Retirement System, Bessemer Trust, State of Michigan, GE Antares Capital, PPM America, St. Paul Travelers and Credit Suisse. Brockway Moran & Partners' existing investors were joined by a limited number of highly respected private equity investors, including Commonfund Capital, Mesirow Financial, University of Virginia, Georgia Tech, Alfred I. duPont Testamentary Trust testamentary trust n. a trust created by the terms of a will. Example: "The residue of my estate shall form the corpus (body) of a trust, with the executor as trustee, for my children's health and education, which shall terminate when the last child attains the age , Boeing Company, The William and Flora Hewlett Foundation William and Flora Hewlett Foundation, philanthropic organization founded in 1966 by engineer and entrepeneur William R. Hewlett (1913–2001), co-founder of Hewlett-Packard, his wife, Flora Lamson Hewlett (1914–77), and their eldest son, Walter B. , RCP (networking, tool) rcp - (Remote copy) The Unix utility for copying files over Ethernet. Rcp is similar to FTP but uses the hosts.equiv user authentication method. Unix manual page: rcp(1). Advisors, AlpInvest Partners and Northern Trust. Credit Suisse acted as an advisor for Fund III. "Our investment strategy and approach to the management of portfolio companies in Fund III will be the same as in our previous funds - to acquire market leaders and work productively in concert with management teams to rapidly grow, and in some cases transform, middle market companies," said Michael E. Moran, Managing Partner of Brockway Moran & Partners. "We are appreciative of the tremendous support we have received over the years from our investor group." The partners of Brockway Moran & Partners - Peter C. Brockway, Michael E. Moran, Patrick J. Boroian, Mark A. Eidemueller, Peter W. Klein, Lawrence I. Shagrin and Richard J. Wandoff - collectively bring over 100 years of private equity experience to the partnership. The seven partners are joined by eight additional professionals including two directors, J.R. Davis and Ari M. Zur. About Brockway Moran & Partners Brockway Moran & Partners is a private equity firm with more than $1.3 billion of capital under management. The firm acquires growth-oriented middle market companies valued between $50 million and $250 million in partnership with exceptional management teams. Brockway Moran focuses on businesses with significant growth opportunities either through internal expansion, industry consolidation or innovative business strategies. The principals of the firm have a record of productively working with management teams to build companies into larger and more diverse enterprises. Brockway Moran & Partners invests in a broad spectrum of industries with significant experience in consumer, industrial and service businesses. Since 1998, the firm has completed over 40 acquisitions. For more information, visit http://www.brockwaymoran.com. |
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