BV Investment Partners Closes Fund VIII At Hard Cap
Fund VIII Raises $487 million
BOSTON, September 2, 2014-- BV Investment Partners ("BV"), a lower middle-market private equity firm focused on the information and business services and communications sectors, today announced that it has successfully completed the final closing for BV Investment Partners Fund VIII with $487 million of committed capital; well above the Fund's $400 million target.
Vikrant Raina, Managing Partner of BV, said, "We would like to thank our limited partners for their support and endorsement of our investment strategy and team. We are well positioned to continue our successful strategy of partnering with entrepreneurs and management teams of innovative companies that can benefit from our operational expertise and financial resources. We are evaluating many exciting new high growth companies to add to the Fund VIII portfolio. I am confident we have the team, strategy, and targeted opportunity set to provide the strong investment returns expected of us."
Fund VIII will continue to focus on lower middle-market information and business services and communications opportunities. The firm has completed two investments in Fund VIII to date – The Efficient Collaborative Retail Marketing Company, an integrated marketing services, software, and data provider serving consumer product manufacturers and retailers, and INetU, a leading provider of complex managed hosting and cloud services to enterprise customers. Both companies address large market opportunities, are growing rapidly, and have created significant value for the Fund.
The Firm recently expanded its team and added two new investment professionals and an additional advisory board member to its 13 person operating advisory board.
Commenting on the firm's fundraising success, Maggie Carter, Director of Investor Relations & Marketing, said, "The success of this fundraise is attributed to the strong performance of the early investments in Fund VIII and the prior fund, Fund VII, the Firm's high quality management team and network of operating advisors, as well as its long term track record of successfully executing on its strategy. With the help of Evercore Partners we have expanded our reach of Limited Partners in Fund VIII throughout Europe. We are very pleased with the strong investor base committed to Fund VIII and we look forward to building long term partnerships with our investors."
Investors in Fund VIII consist of both first time investors and returning investors from BV's prior funds and include a broad group of global institutional investors, public pension plans, fund of funds, and major family offices.
Evercore Partners served as Placement Agent for BV, and legal advice was provided by Ropes & Gray.
Evercore is a leading independent investment banking advisory firm. Evercore's Investment Banking business advises its clients on mergers, acquisitions, divestitures, restructurings, financings, public offerings, private placements and other strategic transactions and also provides institutional investors with high quality equity research, sales and trading execution that is free of the conflicts created by proprietary activities. Evercore's Investment Management business comprises wealth management, institutional asset management and private equity investing. Evercore serves a diverse set of clients around the world from 20 offices in North America, Europe, South America and Asia. More information about Evercore can be found on the Company's website at http://www.evercore.com.
BV Investment Partners is currently investing its eighth private equity fund. The Firm is one of the oldest and most experienced sector-focused private equity firms in North America. Since its founding in 1983, the firm has invested over $2.6 billion in over 80 companies, actively targeting investments in the information and business services and communications industries. For more information, please visit www.bvlp.com.
Chris Tofalli Public Relations, LLC
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