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Private Equity
pinebrookpartners.com

Investments

26

Portfolio Exits

9

Funds

3

About Pine Brook

Pine Brook is a New York-based private equity firm that makes equity investments in new and growing energy and financial services businesses. Pine Brook partners with experienced entrepreneurs and talented management teams to build sustainable, profitable businesses.

Headquarters Location

60 East 42nd Street 50th Floor

New York, New York, 10165,

United States

212-847-4333

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Latest Pine Brook News

BharCap Completes Spin-Out With $1.8 Billion In Capital

Apr 5, 2023

Bharath Srikrishnan will continue to lead experienced Financial Services investment team News provided by Share this article Share this article NEW YORK and GREENWICH, Conn., Feb. 19, 2021 /PRNewswire/ -- BharCap Partners, LLC ("BharCap") announced the spin-out of its team from Pine Brook Road Partners ("Pine Brook"), forming an independent private investment firm focused on the financial services industry. BharCap was founded by Bharath Srikrishnan, Ethan Wang, Jim Rutherfurd1, Kevin Becker and Ryan Gean. All five of the BharCap founders previously worked together at Pine Brook. BharCap is a minority-owned and controlled firm and is one of the largest start-up minority-owned and controlled private investment firms in the industry. BharCap has access to $1.8 billion of available client capital, $352 million of which represents funded assets under management, $318 million of which is unfunded allocations to existing portfolio companies and $1.1 billion of which is available for new investments2. BharCap launches as one of the largest minority-owned private investment firms BharCap founder and Managing Partner Bharath Srikrishnan said "We are honored and excited to have the opportunity to launch BharCap, and thankful to Pine Brook and all our investors for their support. We look forward to continuing to back great executives seeking to capitalize on powerful industry trends in the financial services industry. We are proud that BharCap will represent a sizable, new minority-owned investment firm." Pine Brook CEO Howard Newman noted "The BharCap team did a great job for Pine Brook for several years, including during the pandemic over the past year. They will remain involved with their Pine Brook portfolio companies, which will allow Pine Brook to manage its portfolio without interruption and will give our portfolio companies continued access to these talented investors. We look forward to continuing to work with them and wish them the best of luck with their new firm." BharCap is targeting investments of between $50 million to $350 million and is focused on the following financial services sub-sectors: specialty finance; asset and wealth management; insurance and insurance services; financial technology and tech-enabled business services. BharCap has the ability to invest across the capital structure from senior secured debt to common equity and has the expertise to invest in existing entities or start new companies. In addition, BharCap can provide long duration commitments (e.g., 7 to 10 years) to select specialty finance companies and other asset generators. About BharCap BharCap Partners, LLC ("BharCap") ( www.bharcap.com ) is a private investment firm investing in businesses across the financial services sector. Members of the BharCap team have been involved with investments totaling over $1.0 billion in numerous financial services companies dating back to 2004. BharCap currently has access to $1.8 billion of client capital and invests across the capital structure in debt securities, equity securities and financial assets. 1 Jim Rutherfurd will join BharCap on or around April 1, 2021. 2 Data as of December 31, 2020. SOURCE BharCap Partners

Pine Brook Investments

26 Investments

Pine Brook has made 26 investments. Their latest investment was in Better Mortgage as part of their Series C - IV on August 8, 2019.

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Pine Brook Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

8/19/2019

Series C - IV

Better Mortgage

$65M

No

4

1/31/2019

Series C

Better Mortgage

$70M

No

2

12/15/2017

Private Equity

ATX Energy Partners

$780M

Yes

1

3/31/2017

Line of Credit

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$99M

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10

3/24/2017

Private Equity

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10

Date

8/19/2019

1/31/2019

12/15/2017

3/31/2017

3/24/2017

Round

Series C - IV

Series C

Private Equity

Line of Credit

Private Equity

Company

Better Mortgage

Better Mortgage

ATX Energy Partners

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Amount

$65M

$70M

$780M

$99M

New?

No

No

Yes

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Co-Investors

Sources

4

2

1

10

10

Pine Brook Portfolio Exits

9 Portfolio Exits

Pine Brook has 9 portfolio exits. Their latest portfolio exit was Cahill Services on May 31, 2022.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

5/31/2022

Acquired

$99M

1

10/21/2021

Acquired

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$99M

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10

5/10/2021

Acq - Pending

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$99M

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10

2/19/2021

Spinoff / Spinout

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$99M

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10

1/20/2021

Acquired

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$99M

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10

Date

5/31/2022

10/21/2021

5/10/2021

2/19/2021

1/20/2021

Exit

Acquired

Acquired

Acq - Pending

Spinoff / Spinout

Acquired

Companies

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Valuation

$99M

$99M

$99M

$99M

$99M

Acquirer

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Sources

1

10

10

10

10

Pine Brook Acquisitions

6 Acquisitions

Pine Brook acquired 6 companies. Their latest acquisition was The Thoreau Club on May 20, 2022.

Date

Investment Stage

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Total Funding

Note

Sources

5/20/2022

$99M

Acq - Fin

1

2/19/2020

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$99M

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10

12/6/2017

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$99M

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10

3/30/2017

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$99M

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10

2/25/2011

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$99M

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10

Date

5/20/2022

2/19/2020

12/6/2017

3/30/2017

2/25/2011

Investment Stage

Companies

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Valuation

$99M

$99M

$99M

$99M

$99M

Total Funding

Note

Acq - Fin

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Sources

1

10

10

10

10

Pine Brook Fund History

3 Fund Histories

Pine Brook has 3 funds, including Pine Brook Capital Partners II.

Closing Date

Fund

Fund Type

Status

Amount

Sources

2/14/2014

Pine Brook Capital Partners II

Buyouts & Acquisitions

Closed

$2,430M

1

12/16/2009

Pine Brook Essent Co-Invest LP

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$99M

10

3/31/2009

Pine Brook Road Partners LP

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$99M

10

Closing Date

2/14/2014

12/16/2009

3/31/2009

Fund

Pine Brook Capital Partners II

Pine Brook Essent Co-Invest LP

Pine Brook Road Partners LP

Fund Type

Buyouts & Acquisitions

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Status

Closed

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Amount

$2,430M

$99M

$99M

Sources

1

10

10

Pine Brook Team

23 Team Members

Pine Brook has 23 team members, including , .

Name

Work History

Title

Status

Michael E. Mcmahon

Founder

Current

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Name

Michael E. Mcmahon

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Work History

Title

Founder

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Status

Current

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