Term Sheet

The latest on private equity, M&A, deals and movements — from Wall Street to Silicon Valley

Perella Weinberg snags $225 million for new fund

August 19, 2013: 4:21 PM ET

Perella_weinberg_partnersPerella Weinberg Partners passes halfway point on new growth equity fund.

FORTUNE -- In March we reported that investment bank Perella Weinberg Partners was raising $400 million for a growth equity fund, led by former Weston Presidio partners Chip Baird and David Ferguson.

Now Fortune has learned that the firm already has secured $225 million, from both a first close and subsequent capital commitments.

The group -- called PWP Growth Equity -- expects to hold a second close by year-end, which may prove to be the final one.

No comment from PWP, citing SEC restrictions on solicitation.

Sign up for Dan's daily email newsletter on deals and deal-makers: GetTermSheet.com

Join the Conversation
About This Author
Dan Primack
Dan Primack
Senior Editor, Fortune

Dan Primack joined Fortune.com in September 2010 to cover deals and dealmakers, from Wall Street to Sand Hill Road. Previously, Dan was an editor-at-large with Thomson Reuters, where he launched both peHUB.com and the peHUB Wire email service. In a past journalistic life, Dan ran a community paper in Roxbury, Massachusetts. He currently lives just outside of Boston.

Email a Tip | @danprimack | RSS
Current Issue
  • Give the gift of Fortune
  • Get the Fortune app
  • Subscribe
Powered by WordPress.com VIP.