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Alternative Market Briefing

Platinum Equity rakes in $10bn for its fifth flagship fund

Wednesday, January 08, 2020

Laxman Pai, Opalesque Asia:

The U.S. buyout firm Platinum Equity Partners raised $10 billion for its largest fund yet, surpassing an $8 billion target.

The vehicle puts Los Angeles-based firm among a select group of private equity shops to have raised at least $10 billion for a single fund.

The firm began officially marketing its Platinum Equity Capital Partners V LP early this year and had raised more than $7 billion for the fund by July.

The previous fund, $6.5 billion Platinum Equity Capital Partners IV, closed in 2017 but had already made its first investment in 2016.

The new fund will invest in the complex transaction using the firm's mergers, acquisitions, and operations strategy.

Mark Barnhill, the Platinum Equity partner responsible for leading the capital raise, claimed Fund V generated high demand from a diverse range of institutional investors around the world. More than 250 subscribers from 30 countries invested in the fund.

"The investor base is diverse but has certain common threads, including an emphasis on finding managers with deep operational capabilities, differentiated strategies and a demonstrated track record across multiple economic cycles," he said.

Investors in Platinum Equity Capital Partners V include the $59.1 billion Pennsylvania Public School Employees' Retirement System, Harrisburg; $26 billion New Mexico State Investment Council, Santa Fe; $20.2 billion Louisiana Teachers' Retirement System, Baton Ro......................

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