Home / transaction / Berkshire Global Advisors acted as financial advisor to Newbury Partners
Berkshire Global Advisors acted as financial advisor to Newbury Partners
  • has sold a minority interest to
  • Berkshire Global Advisors acted as financial advisor to Newbury Partners

  • Date: October 2020
  • Sector: Private Markets – Private Equity / Credit
  • Sub-Sector: Private Equity
  • Region: North America
  • Seller AUM: $3.5 Billion
  • Seller Details:
    Newbury Partners is a secondaries investment manager focused on acquiring interests in established leverage buyout, growth equity and venture capital funds. Since inception, the Firm has completed more than 250 transactions and committed $4.5 billion of investor capital. Newbury Partners was established in 2006 by an experienced team of senior investment professionals focused on the secondary private equity market. The firm manages more than $5.5 billion of capital commitments on behalf of approximately 250 limited partners worldwide, including leading pension funds, family offices, insurance companies, endowments, and corporations across North America, Europe, Asia and Australia.

    Buyer Details:
    RidgeLake Partners is a strategic partnership between PA Capital and Ottawa Avenue Private Capital focused on acquiring minority equity stakes in top-tier middle market private equity management companies. RidgeLake seeks to partner with firms focused on buyout, growth, distressed, secondaries or real assets strategies across the private markets. RidgeLake brings a long-term approach to its GP partners, along with strategic counsel borne from more than 40 years of combined middle market investment experience.

    Transaction Summary:
    The passive minority investment from RidgeLake will support the future growth of Newbury and strengthen the Firm’s alignment with its global investor base. There will be no change in Newbury’s investment processes nor day-to-day management of the Firm.