Gores Group Raises $1.3B Private Equity Fund

Jun 29 2007 | 11:36am ET

The Gores Group recently held a final closing of its second private equity fund, Gores Capital Partners II, with capital commitments of $1.3 billion. GCP II will acquire mature companies, primarily in the technology, industrial, telecommunications and services sectors.

"We believe that our fundraising success reflects the strength of our organization and our investment strategy, in particular our unique operating orientation and ability to transform undervalued or underperforming businesses," said Alec Gores, Founder and Chairman.

Los Angeles-based Gores Group was founded in 1987.

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