- Private equity firm Platinum Equity recently announced the final close of its latest global buyout fund called Platinum Equity Capital Partners V with $10 billion in total capital commitments
Private equity firm Platinum Equity recently announced the final close of its latest global buyout fund called Platinum Equity Capital Partners V with $10 billion in total capital commitments. The fund originally had a target of $8 billion and a hard cap of $10 billion, meaning it was oversubscribed.
“We are very grateful for the support of our investors worldwide who have entrusted us with their capital and helped extend our global investment reach,” said Tom Gores, founder, chairman, and CEO of Platinum Equity. “We have great momentum, with a well-oiled investment machine built on discipline, urgency and a relentless focus on execution, and fueled by the capital resources to pursue complex transactions anywhere in the world.”
This is Platinum Equity’s flagship private equity fund, which is focused on complex transactions utilizing Platinum Equity’s highly specialized M&A&O approach.
Mark Barnhill, Partner at Platinum Equity, pointed out that Fund V generated high demand from a diverse range of institutional investors around the world. And over 250 subscribers from 30 countries invested in the fund.
“Our investment brand is strong and getting stronger, and we have relationships today with some of the largest and most active institutional investors in the world,” added Barnhill. “The investor base is diverse but has certain common threads, including an emphasis on finding managers with deep operational capabilities, differentiated strategies and a demonstrated track record across multiple economic cycles.”
Platinum Equity was originally founded by Gores in 1995. And it was ranked among the top 10 performing private equity firms in the world for 2018 in a recent study by HEC Paris Business School and Dow Jones. The firm — which funded its initial investments with founder’s capital — has raised over $25 billion from institutional investors since launching.
The firm raised its first private equity fund in 2004 with $700 million in capital commitments. And then that was followed by Fund II with $2.75 billion in 2007, Fund III with $3.75 billion in 2012, Fund IV with $6.5 billion in 2016, and Fund V with $10 billion. Plus the firm also manages a $1.5 billion Small Cap Fund pursuing similar private equity investments in the lower middle market.
Simpson Thacher & Bartlett LLP is Platinum Equity’s fund counsel and legal adviser for Fund V.
