OpenGate Capital, a Los Angeles, CA-based private equity firm, reached the final closing of its first institutional vehicle.
OpenGate Capital Partners I, LP, and affiliated partnerships, exceeded the target of $300m to close on $305m in total commitments. The fund has already completed four investments in the first half of 2016 including Power Partners Inc., Energi Fenestrations Solutions, Bois & Matériaux and Alfatherm. A fifth investment, Umicore Zinc Chemicals, is expected to close later in 2016.
Established in 2005 and led by Andrew Nikou, founder, Managing Partner and CEO, the firm specializes in the acquisition and operation of businesses seeking revitalization through growth and operational improvements. To date, it has executed more than 40 transactions ranging from corporate divestitures to turnaround acquisitions, industry consolidations and other special situation investments.
OpenGate Capital also has a European office in Paris, France.