Los Angeles, CA-based Platinum Equity closed a $6.5m global buyout fund.
Platinum Equity Capital Partners IV was oversubscribed from more than 200 limited partners from 28 countries.
Founded by Tom Gores, chairman and chief executive officer, in 1995, and Mark Barnhill, partner, Platinum Equity specializes in mergers, acquisitions and operations — a trademarked strategy it calls M&A&O® – acquiring and operating companies in a broad range of business markets, including manufacturing, distribution, transportation and logistics.
The firm, which raised its first private equity fund in 2004, with $700 million in capital commitments. That was followed by Fund II with $2.75 billion in 2007, Fund III with $3.75 billion in 2012, and now Fund IV with $6.5 billion, has completed more than 185 acquisitions and currently has a portfolio of approximately 30 operating companies.