Newbury Partners LLC
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Resource #1: Stamford, Connecticut-based secondary firm Newbury Partners has closed its first fund on $702m. The fund was launched at the end of 2006 with a $700m target. Investors in the fund reportedly include New York Life, 3M Pension Fund and APIII.
Newbury Partners' fund is already 20 per cent invested. Most deals were completed following the subprime mortgage crisis in summer of last year, the firm said. Newbury Partners is a spin out from Auda Private Equity. source
Resource #2: On September 20, 2007, an agreement was signed between the Company and Newbury Partners LLC ("the buyer") whereby the Company and Clal Venture Capital, Limited Partnership, a partnership controlled by the Company and held by it at a rate of 67% and at a rate of 33% by IDB ("CVC"), will sell their holdings in several start-up companies ("the sold companies") managed for the Company and CVC by the management company, IMS, in consideration of approximately $ 20 million. The sale of certain companies is subject, among other things, to refusal rights granted to other shareholders holding a stake in some of the sold companies. source