– Broadwing Capital Management has closed its inaugural fund, Broadwing Capital Fund I, at $440 million in total commitments.
– The fund exceeded its $350 million target and was oversubscribed.
– The Dallas-based private equity firm focuses on lower middle-market manufacturing and services companies.
– Fund I attracted a diverse institutional investor base, including pension plans, insurers, foundations, funds of funds, family offices and RIAs.
– The GP and affiliates also made significant incremental commitments to a parallel fund investing pro rata alongside Fund I.
– Founded in 2022 by Eliot Kerlin and Andrew Boisseau, Broadwing targets founder-, family- and operator-owned businesses in the U.S.
– The strategy focuses on companies with opportunities for organic growth, acquisitions and operational improvement.
– Fund I currently supports six platform investments, with additional investments planned.
– Eliot Kerlin, Managing Partner and Co-Founder, said the fundraising demonstrates investor confidence in the firm’s team, strategy and track record.
– Andrew Boisseau, Co-Founder and Partner, highlighted the opportunity created by a “generational wave” of businesses changing hands and Broadwing’s focus on helping founders and investors navigate that transition.
