BayPine Exceeds Target for Inaugural Private Equity Fund and Raises Approximately $3.0 Billion

Sep 08, 2022

BOSTON--(BUSINESS WIRE)--BayPine LP (“BayPine”), a private investment firm that drives digital transformation in market-leading businesses, today announced the successful close of its inaugural private equity fund, BayPine Capital Partners Fund I (the “Fund”), at approximately $2.2 billion, exceeding its $2.0 billion target. The Fund's capital, together with the invested capital of co-investors participating directly and indirectly alongside the Fund, totals approximately $3.0 billion in the aggregate. The Fund’s investor base is comprised of leading global institutions, including public and private pension plans, sovereign wealth funds, endowments and foundations, insurance companies, family offices and high net worth individuals.

BayPine was formed in 2019 by Managing Partners David Roux, Co-Founder and former Co-CEO and Chairman of Silver Lake, and Anjan Mukherjee, former Senior Managing Director at Blackstone and Counselor to the Secretary and Deputy Assistant Secretary for Financial Institutions at the U.S. Department of the Treasury. The firm’s strategy seeks to instill durable core-economy companies with the execution speed, innovation mindset and technology infrastructure of leading “new economy” businesses.

BayPine’s team of established investors and seasoned operators aim to drive value in its portfolio companies by developing and implementing a comprehensive digital transformation agenda, enabling businesses to modernize and capture their full growth potential. In addition to Messrs. Roux and Mukherjee, BayPine’s Founding Partners, Wan Ling Martello, Marius Haas, Brian Frank, and Steve Ko, possess over 180 years of collective investing and business-building experience.

Mr. Roux said, “In our view, the largest technology trend of our generation is the digitization of the entire economy, impacting all businesses globally. This tectonic shift creates unique challenges, but also unprecedented opportunities for companies to harness the power of modern digital technology to transform their businesses. We founded BayPine with the express purpose of capitalizing on the opportunity to make good businesses great by combining the best of traditional private equity with a digital overlay and patient capital approach, so that our portfolio companies are positioned to thrive in the new era and beyond.”

Mr. Mukherjee said, “We are incredibly proud of the strong team we have assembled from premier investment firms and global operating companies, which provides BayPine and our portfolio companies with unrivaled financial and strategic expertise and deep, influential technology relationships. Moreover, we are grateful for the support of our institutional limited partners, who appreciate BayPine’s differentiated, purpose-driven investment approach. The investments we have made to date – and their success since – are illustrative of our ‘digital alpha’ strategy, and we look forward to continuing to execute on a robust pipeline of opportunities as the partner of choice to management teams seeking to create value for their stakeholders through the effective application of technology.”

The Fund is approximately one-third invested across three investments, including Penn Foster, a pioneering workforce development and online vocational skills company, Mavis Tire Express Services, a leading aftermarket tire and automotive service provider, and Pinnacle Dermatology, one of the largest dermatology management services organizations in the United States.