Platinum Equity closed its capital raising for Platinum Equity Small Cap Fund, the firm’s inaugural fund focused exclusively on investment opportunities in the lower middle market.
The fund was oversubscribed and held a single closing at a hard cap of $1.5 billion. It will focus only on the lower middle market, complementing the firm’s flagship $6.5 billion Platinum Equity Capital Partners IV, which is focused on larger transactions.
The small cap fund will pursue the same type of operations-focused investments as the larger fund.
“We have the ability to create value from one end of the spectrum to the other,” said Tom Gores, chairman and CEO of Platinum Equity. “Our core fund is moving upstream into larger deals, but we don’t want to lose sight of smaller transactions where we can create real value.”
Simpson Thacher & Bartlett is Platinum’s fund counsel and legal adviser for the small cap fund.
Founded by Gores in 1995, Platinum Equity is a global investment firm with $13 billion of assets under management and a portfolio of more than 30 operating companies that serve customers around the world.
