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GI Partners Closes Fund IV at $2 Billion
Fund Was Oversubscribed, Surpassing $1.5 Billion Target
Menlo Park, CA, April 24, 2014 – GI Partners, a leading middle market private equity firm, today announced it has successfully completed the final closing for GI Partners Fund IV (“Fund IV” or the “Fund”) at the Fund’s $2 billion hard cap, surpassing its $1.5 billion fundraising target.
Fund IV will continue the investment strategy GI has pursued since inception, and focus primarily on control-oriented, deep value investments in North American middle market companies.
Rick Magnuson, Founder and Executive Managing Director of GI Partners, said, “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."
Fund IV investors include a broad group of domestic public and corporate pension plans, sovereign wealth funds, funds of funds, foundations, and family offices.
Commenting on the successful completion of the fundraise, GI’s Managing Directors said, “This new fund enables us to continue to pursue attractive investment opportunities and seek to partner with high quality management teams to build market leading companies. We are enthusiastic about the prospects for Fund IV and look forward to applying our differentiated value creation strategy.” GI’s Fund IV Managing Directors are Howard Park, Hoon Cho, Alexander Fraser, and Greg VandenBosch.
Within its private equity efforts since inception, GI has managed $6 billion across four private equity funds and invested in 38 platform investments.