Platform Partners, a private investment company founded in 2006, announced it closed on $180 million of follow-on equity capital commitments to its perpetual investment vehicle, Platform Partners Investment Company. And Platform exceeded its original target with commitments from both existing and a select group of new shareholders, bringing total assets under management to approximately $800 million.
As consistent with Platform’s historical approach, the new funding – added to the existing capital base – will primarily be used to invest $20 to $100 million of equity per investment in growing, founder or family-owned companies. And Platform’s perpetual investment model and ability to recycle capital allows business owners to operate with a long-term, growth-oriented perspective without pre-defined exit timelines.
Platform has over 20 investment and portfolio support professionals responsible for deploying the newly raised capital alongside funds generated by Platform’s existing businesses. And Platform founders, employees, and affiliates continue the firm’s heritage by collectively being the largest investor in the capital raise. Since the firm’s founding in 2006, Platform has invested in over 30 initial platform companies.
Latham & Watkins served as legal counsel, and no placement agent was used for the capital raise.
KEY QUOTE:
“After initially setting out to raise $150 million of additional capital, we are pleased to report that we exceeded our goal. As always, we are grateful for the support and trust each of our investors has shown Platform both during this capital raise and since our inception in 2006. Our shareholder network of successful executives and family offices has always been part of our firm’s ‘secret sauce,’ and we are pleased to add a few new, like-minded investors in addition to our core group during this financing round.”
– Fred Brazelton, CEO and Co-Founder of Platform Partners
