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Pine Brook Road Partners said Tuesday that it has raised more than $1.4 billion for its first private equity fund, completing nine investments in the last two years.
Investors in the New York-based Pine Brook Capital Partners limited partnership included the Kansas Public Employee Retirement System and New York State Teachers Retirement Systems.
Pine Brook plans to typically invest $100 million to $200 million of equity in newly-formed companies that operate energy or financial service businesses. Its portfolio of energy companies are concentrated largely on exploration and development, while its financial businesses include insurers and reinsurance.
Unlike the typical leveraged buyout firm Pine Brook takes a somewhat unique approach to dealmaking, seeking to fund new platform companies with...