BharCap Partners closes oversubscribed Fund II at $652 million

BharCap Partners, LLC, a US-based private equity firm focused on the North American financial services sector, announced the final closing of its second fund, BharCap Partners Fund II, LP. Fund II was oversubscribed with $652 million in equity capital commitments, 30% above its $500 million target. In total, BharCap raised over $1.1 billion of committed equity capital through Fund II and affiliated co-investment vehicles.

Fund II’s investors are a diverse group of limited partners from North America, Europe and Asia, including insurance companies, asset managers, public pension plans, institutional consultants, endowments and foundations, high-net-worth individuals and family offices. The fund’s closing marks a pivotal moment as BharCap continues to source unique investment opportunities that leverage its longstanding relationships with financial services entrepreneurs.

Fund II targets management buyouts of asset-light middle-market financial services companies in sub-sectors including wealth and asset management, insurance distribution and insurance services, financial technology and tech-enabled financial services, and tax, accounting and advisory services. The firm focuses on companies with recurring revenue, strong profit margins and high free cash flow conversion that BharCap can scale. Fund II and its LP co-investment vehicles typically invest $50 to $300 million in North American companies with EBITDA of $10 to $50 million.

To date, Fund II has invested approximately 30% of its capital commitments into four portfolio companies in the insurance brokerage, insurance services, payment processing and wealth management sectors.

Rede Partners is proud to have worked alongside BharCap on this highly successful fundraise.