Platinum Equity Closes $2.75B Buyout Fund

Sep 4 2008 | 10:25am ET

Beverly Hills, Calif.-based Platinum Equity has raised $2.75 billion for its latest leveraged buyout fund. Platinum added that it has committed to make a substantial co-investment that will increase Platinum Equity Capital Partners II’s available capital to well over $3 billion.

Investors in the new fund include public and private pension funds, financial institutions, university endowments and trusts in North America, Europe and Asia.
 
“We hope to be just as successful with this new fund as we have been in the past, but this is no time for us to rest on our track record,” said Tom Gores, CEO. “We need to remain smart and vigilant, and we intend to do so.”

Gores founded Platinum was in 1995.


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Chicago-based independent futures brokerage and clearing firm R.J. O’Brien & Associates (RJO) has hired industry veteran Daniel Staniford as Executive Director, responsible for the firm’s institutional business development in New York and London.

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