Baird Capital, the direct private investment arm of Milwaukee-based Robert W. Baird & Co. Inc., has filed paperwork to form a new $300 million private equity fund.
Milwaukee-based Baird Capital Global Fund I LP filed a notice of exempt offering of securities with the SEC Thursday for the private equity pooled investment fund. The business was incorporated this year in the Cayman Islands.
This is Baird Capital’s first global fund. The arm currently makes venture capital, growth equity and private equity investments in health care, technology and services, and industrial solutions through its U.S. Private Equity, Venture Capital, U.K. Private Equity and China Growth Equity funds. Since it was founded in 1989, Baird Capital has invested $3.1 billion in about 300 portfolio companies.
The first sale has yet to occur on the global fund, the total offering of which is aggregated together with BCGF I Special Affiliates LP and BCGF I Affiliates Fund LP. Baird expects to pay sales commissions related to investments in the fund and is entitled to carried interest and a management fee from its administration.
It is not clear what the $300 million will be used for, but the offering is not being made in connection with a business combination transaction, such as a merger, acquisition or exchange offer, according to the filing. Baird did not respond to requests for comment about the private equity fund.
