It seeks a portfolio that is diverse in product, geography and risk profile, according to a statement by Arthur P. Pasquarella, BPG's executive vice president and chief operating officer. "In today's environment," Pasquarella says, "we believe there are a great deal of opportunities."
In a statement, Daniel M. DiLella, Berwind's president and chief executive officer, says 11 new institutional investors joined investors in previous BPGfunds in this sixth fund. Among them are public and private pension plans, endowments, foundations, financial institutions and high-net worth individuals. Berwind itself committed $30 million to the fund.
Since 1993, BPG has raised more than $1 billion of equity capital through the formation of six commingled funds and one co-investment fund.
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