Middle market private equity firm GI Partners has completed the final closing for GI Partners Fund IV at its $2 billion hard cap, surpassing its $1.5 billion fundraising target. Fund IV investors include a domestic public and corporate pension plans, sovereign wealth funds, funds of funds, foundations, and family offices.
“We are grateful for the strong support from our existing investors and are very pleased to welcome a highly regarded set of new investors to GI. We believe the interest expressed by our limited partners demonstrates their appreciation of GI’s experienced team, deep sector knowledge, and unique position in the middle market landscape,” said Rick Magnuson, Founder and Executive Managing Director of GI Partners.
In addition to Mr. Magnuson, GI Partners is led by managing directors Howard Park, Hoon Cho, Alexander Fraser, and Greg VandenBosch.
Fund IV will continue the investment strategy GI has pursued since inception in 2001. The firm invests from $50 million to $250 million in companies with enterprise values of $100 million to $750 million. Sectors of interest include IT infrastructure & services; healthcare services; leisure & retail; and financial & real estate services. Since founding, GI has managed $6 billion across four private equity funds and invested in 38 platform investments. GI Partners is based in Menlo Park (www.gipartners.com).
UBS Securities served as placement agent for GI Partners and Kirkland & Ellis served as legal counsel.
© 2014 PEPD • Private Equity’s Leading News Magazine • 4-25-14
