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GI Partners Closes Oversubscribed Fund V With $2.7 Billion in Limited Partner Commitments
SAN FRANCISCO, November 14, 2017 – GI Partners, a leading middle market private equity firm, today announced the final closing of GI Partners Fund V, which was oversubscribed at its hard cap of $2.7 billion from a broad group of investors around the world. The fund raise surpassed its target of $2.3 billion.
GI Partners’ senior management team which, on average, has worked together for over a decade, will continue the investment strategy from earlier funds and seek to deploy Fund V capital into control-oriented investments in North American middle market businesses with downside protection and significant untapped growth potential. Over the 16 years since the firm’s inception, and through two economic cycles, GI Partners’ North American middle market strategy has consistently delivered attractive risk-adjusted returns with minimal loss of capital. Fund V will primarily target investments with enterprise values between $250 million and $1 billion in several sectors, including IT Infrastructure, Healthcare, Software, and Services.
"We are very pleased that an overwhelming majority of our existing investors re-committed to our latest fund and that a number of new leading investors have entrusted their capital with our team and investment strategy,” said Rick Magnuson, Founder and Executive Managing Director of GI Partners. “We are excited to further build our investment portfolio from the attractive pipeline of investment opportunities we have identified.”
GI Partners’ diverse global investor base includes pensions, sovereign wealth funds, investment management firms, financial institutions, family offices, endowments, and foundations.
Philip Yau, Managing Director, said, “We are grateful for the continued support from our investors who believe we can create superior value in our attractive targeted industries. We are fortunate to have their trust and support as we work collaboratively to implement real operational improvements and build value for our investors.”
Fund V was activated in August when it invested in the $1.675 billion acquisition of ViaWest, Inc. from Shaw Communications Inc., creating a leading scale provider of colocation, connectivity, cloud, and managed solutions. GI Partners completed its last fund, GI Partners Fund IV, in 2014 at the fund’s $2 billion hard cap, surpassing its $1.5 billion fundraising target.
UBS Securities LLC served as placement agent and Kirkland & Ellis LLP served as legal counsel for the fund raise.
About GI Partners
GI Partners is a leading private investment firm based in San Francisco. The firm has raised over $16 billion in capital through private equity and real estate strategies from recognized institutional investors across the world. GI Partners' private equity team is active in several sectors, including IT Infrastructure, Healthcare, Software, and Services. For more information on GI Partners and its entire portfolio, please visit www.gipartners.com.