Berkshire closes seventh fund at $3.1 billion

The Boston-based firm’s new fund will make equity investments of $50m to $350m primarily in North America.

Berkshire Partners has closed its seventh investment fund at $3.1 billion (€2.4 billion).

The firm said Berkshire Fund VII is expected to consist largely of North American-based investments in the retail, manufacturing and transportation sectors. Many of the North American acquisitions are expected to have significant oversees operations. Berkshire typically makes equity investments of $50 million to $350 million.

Berkshire said it will seek companies with acquisition values between $200 million and $1.5 billion. Since raising its initial fund in 1984 the firm has invested in over 85 mid-sized companies with more than $15 billion of acquisition value.

Some of the more notable Berkshire acquisitions which are now publicly traded include Bare Essentials, Crown Castle International Corporation, Hexcel Corporation and Carter’s.

In August Berkshire made a major co-investment in N.E.W. Customer Service Companies, a portfolio company of TH Lee Putnam Ventures, with Freeman Spogli.