Brentwood Associates has had the busiest month in the firm’s history, reports Private Equity International. The firm has sold three portfolio companies during the month of June: display advertising business Array Marketing, apparel and accessories company Filson and equestrian footwear and apparel manufacturer Ariat. Bill Barnum, partner at Brentwood, attributed the timing of the three exits to a combination of solid portfolio company performance and a “pretty robust” exit environment.
The exits could not come at a better time for Brentwood, whose fourth fund is roughly 80 percent invested, as limited partners want to see capital distributions from realizations before re-upping to an existing manager. “As much as we like the businesses, it was time to get the liquidity and give it back to our LPs,” Barnum said.