Shamrock Capital, an LA-based investment firm specializing in media, entertainment, content, communication, sports, marketing, and education sectors, announced the final closing of Shamrock Capital Growth Fund VI, L.P. and Shamrock Capital Clover Fund I, L.P. with $1.6 billion of total capital commitments.
After launching the fundraising in the first quarter, Growth VI was quickly oversubscribed, surpassing its hard cap of $1.25 billion, while Clover I also significantly surpassed its target, raising approximately $320 million within six months.
These funds will focus on buyouts and later-stage growth equity investments in middle-market companies across Shamrock’s target sectors, looking to capture Shamrock’s proprietary middle-market deal flow, thematic approach and expertise, and value creation capabilities by utilizing the same strategy Shamrock implemented since 2001. And investments made by the funds will be delineated by size: Growth VI will participate in equity investments of at least $45 million. And Clover I, which is a new product for Shamrock, will participate in investments under $45 million.
These funds have dedicated teams of Shamrock’s senior investment professionals and will utilize firm-wide resources and a shared pipeline to source and execute new deals efficiently. And Clover I will be led by Partners Ryan Smiley and Sam Halls. Mr. Smiley rejoined Shamrock late last year to co-head Clover I.
More recently, he served as a General Partner and Managing Director at RLH Equity Partners after beginning his career as an Associate at Shamrock. Halls has been a member of the private equity investment team at Shamrock for nearly a decade and has worked on deals starting with Shamrock Capital Growth Fund III, L.P. through the latest fund, while also serving on the Boards of various Shamrock portfolio companies. This Clover I team also includes Vice Presidents Sreyas Samantula and Ari Adler.
The fundraising received significant interest from new and existing investors, which Shamrock believes is a testament to its differentiated investment strategy, sector expertise, proprietary deal sourcing and 23-year track record of generating returns for its limited partners. The fundraise achieved over 100% net dollar retention from existing limited partners in the predecessor flagship fund. And the funds’ limited partners include a diverse mix of pension funds, endowments, foundations, family offices, insurance companies, and other financial institutions.
Proskauer served as legal advisor for Shamrock, and no placement agent was used for the fundraiser.
KEY QUOTES:
“We believe our latest funds, Growth VI and Clover I, position us to continue to generate compelling returns for our investors by making high conviction, thematic, and differentiated investments in dynamic, growth-oriented sectors of the economy. We see significant opportunities to continue to partner with talented management teams in leading companies across media, entertainment, communications, and various sub-sectors, and will maintain our longstanding approach as value-added, collaborative partners.”
“We are extremely grateful for the support from our existing investors, many of whom have partnered with Shamrock over multiple funds and through the launch of Clover I. Additionally, we are looking forward to partnering with our new investors, whose trust and commitment have created a strong foundation upon which we can build fruitful partnerships for the future.”
– Steve Royer, President, Partner of Shamrock Capital
