New fund: Billionaire Tom Gores' Platinum Equity has closed a new $2.75 billion leveraged buyout fund, indicating investors have not given up on private equity firms with a solid track record.
NEW FUND: Billionaire Tom Gores' Platinum Equity Platinum Equity is an American information technology and private equity firm. It was founded by billionaire Tom Gores in 1995 and is headquartered in Beverly Hills, California. has closed a
new $2.75 billion leveraged buyout leveraged buyout, the takeover of a company, financed by borrowed funds. Often, the target company's assets are used as security for the loans acquired to finance the purchase. fund, indicating investors have not
given up on private equity firms with a solid track record. Platinum platinum (plăt`ənəm), metallic chemical element; symbol Pt; at. no. 78; at. wt. 195.08; m.p. 1,772°C;; b.p. 3,827±100°C;; sp. gr. 21.45 at 20°C;; valence +2 or +4. initially had a $1.5 billion target for Platinum Equity Capital Partners
II, but Gores said strong investor demand and new opportunities
encouraged the Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. firm to increase the fund size. Platinum has
committed to make a substantial co-investment that will increase the new
fund's available capital to more than $3 billion.
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