Baird Capital, the venture capital and private equity arm of Milwaukee-based Robert W. Baird & Co., closed its second Global Fund with more than $340 million in committed capital, according to a July 22 announcement.
The fund makes buyout and growth equity investments of $15 million to $40 million in technology services and industrial solutions companies in the U.S., United Kingdom and Asia. It targets companies with EBITDA of $5 million to $15 million, according to the announcement. (EBITDA refers to earnings before interest, taxes, depreciation and amortization.)
Baird Capital has already made four investments from the fund: U.S.-based global pharma services consultancy Blue Matter Consulting LLC; UK-based aircraft services company eCube Solutions Ltd.; Pennslyvania-based life sciences consultancy Azzur Group; and UK-based biopharmaceutical product strategy consultancy Prescient Healthcare Group, which it sold in January and then reinvested in.
The Prescient sale generated more than $100 million in proceeds, according to Baird's annual report. In February, Baird Capital sold another private equity portfolio company, UK-based Collingwood Lighting Ltd., to generate $60 million, according to the report.
Baird Capital's first Global Fund closed in 2017 with $310 million in committed capital. To date, Baird has exited three global private equity investments and returned more than 75% of paid-in capital to investors in that fund, according to the report.
In 2020, Baird Capital's private equity division invested $125 million in four new investments and one add-on acquisition, according to the annual report.
Investors in the second Global Fund include Baird, third-party institutions, high-net-worth clients and Baird associates, according to a statement from Baird president, CEO and chairman Steve Booth.
Since 1989, Baird Capital has raised and managed around $3.9 billion and invested in more than 325 companies across its private equity and venture capital divisions.
