Saturday, 30 August 2014
Last updated 16 hours ago
Feb 22 2011 | 7:58am ET
L.A.-based private equity investment firm The Gores Group has closed its third private equity fund with capital commitments of $2 billion.
The Gores Capital Partners III fund will acquire companies chiefly in the technology, telecommunications, business services, industrial, consumer and healthcare sectors.
“We believe that the incredible success of our fundraising efforts reflects the strength of our acquisition and operations teams as well as our unique investment strategy and approach. In particular, we believe investors were attracted to our operating orientation and ability to transform undervalued or underperforming businesses,” said Alec Gores, founder and chairman of The Gores Group.
Total capital commitments in GCP III exceeded the fund’s $1.5 billion target by over 30%. In addition, a majority of previous investors participated in the new fund, while increasing their commitment by 36%.
Gores said the firm would follow the same investment strategy it has for 20 years, adding the strategy was “obviously attractive to investors, as is evident by our strong fundraising results.”
The Gores Group, founded in 1987, makes control buyout investments in non-core, underperforming or undervalued businesses in the United States and Europe. It maintains an in-house team of over 60 M&A and operations professionals in the U.S. and Europe. The firm’s current p.e. fund has committed equity capital of over $4 billion.
Lazard acted as placement agent for the fund and Weil, Gotshal & Manges served as fund counsel.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Commodities/Futures magazine launched at the precipice of a revolution in the futures industry—really a revolution in the idea of risk management—that would move it from a small niche industry to ...