Managers

In brief: Brightwood approaches $650m for debt vehicle with diverse business mandate

The fund launched in 2021 with a $2bn target and will invest at least a quarter of its capital in diverse-owned businesses.

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Brightwood Capital Advisors, the US-based private credit firm, has raised $638.3 million for its fifth flagship fund, according to an SEC filing.

Brightwood Capital Fund V launched in 2021 with a $2 billion target, New Private Markets data shows. The fund has a mandate to invest at least a quarter of its capital in diverse-owned businesses, a source told NPM at the time. The firm focuses on four sectors: business and healthcare services, franchising, transportation and logistics, and technology and telecommunications. A product focussed on small businesses is also on the fundraising trail. Brightwood declined to comment when contacted by NPM.