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Berkshire Global Advisors acted as financial advisor to Newbury Partners
  • has agreed to be acquired by
  • Berkshire Global Advisors acted as financial advisor to Newbury Partners

  • Date: February 2023
  • Sector: Private Markets – Private Equity / Credit
  • Sub-Sector: Secondaries
  • Region: North America
  • Seller AUM: 4.5 Billion
  • Seller Details:

    Founded in 2006, Newbury Partners (“Newbury”) is a leading institutional investor in the private equity secondaries market, with a focus on acquiring limited partnership interests in established buyout, growth equity and venture capital funds. Newbury has raised more than $6.2 billion of committed investor capital from more than 250 limited partners worldwide and has returned more than $4.2 billion in distributions since inception; the firm manages more than $4.3 billion of fee paying committed capital.

    Buyer Details:

    Bridge Investment Group (“Bridge”) is a leading, vertically integrated real estate investment manager, diversified across specialized asset classes, with approximately $43.3 billion of assets under management. Bridge combines its nationwide operating platform with dedicated teams of investment professionals focused on select U.S. real estate verticals: residential rental, office, development, logistics properties, net lease, real estate-backed credit, solar infrastructure and prop tech.

    Transaction Summary:

    The transaction adds significant assets to the Bridge platform, while enabling Bridge to expand into the rapidly growing private equity secondaries market, which continues to see accelerating demand. Newbury’s extensive direct sourcing network and middle market focus align closely with Bridge’s strategy of investing in carefully targeted real estate markets that allow the firm to benefit from its specialized expertise and drive attractive risk-adjusted returns. The addition of Newbury will diversify Bridge’s product offerings and expand its institutional client base, with minimal overlap between Newbury’s fund investors and existing Bridge limited partners. Newbury will retain its headquarters in Stamford, Connecticut and will continue to be led by its long-standing management team.