Gallant Capital Partners has held a final closing of Gallant Capital Partners Fund II LP with $406 million of capital. Gallant’s first fund closed in July 2020 at its hard cap with $378 million in capital commitments.
According to Gallant, Fund II’s limited partners include both existing investors and a new group of global institutional investors.
Los Angeles-headquartered Gallant Capital makes control investments of $15 million to $200 million in technology, industrial and business services companies that have up to $40 million of EBITDA. The firm was founded in January 2018 by ex-Gores Group professionals Jon Gimbel and Anthony Guagliano and ex-OpenGate professional Desmond Nugent.
Since its founding, Gallant has completed over 30 transactions and Fund II has already closed on two platform investments and closed five add-on acquisitions.
In May 2024, Gallant acquired Fime, a Paris-headquartered payments consultancy and testing specialist used for the development, integration, and validation of digital payment systems. Simultaneous with the acquisition of Fime, Gallant acquired the digital payments testing business of publicly traded UL Solutions (NYSE: ULS). Both businesses were merged and now operate under the Fime brand. Last month, Fime closed its first add-on acquisition with the buy of Consult Hyperion, a UK-based consultancy specializing in secure electronic transactions.
Park Hill Group was the placement agent for Fund II and Kirkland & Ellis provided legal services.
© 2024 Private Equity Professional | October 2, 2024
